Autonomous aerial logistics technology company Matternet takes to skies with $33 million in funding
Matternet, a developer of commercial drone delivery systems for urban and suburban environments, has raised approximately $33 million in an oversubscribed private placement offering. It has also completed a go public reverse merger transaction with Los Altos Ventures Corp., which has been renamed Matternet and will continue the firm’s historic business. It says that this makes it the first publicly reporting pureplay drone delivery venture.
The financing was led by a group of new investors, including Ed Eisler of EE Holdings and Mark Tompkins of Montrose Capital Partners, and included participation from several existing backers. The company intends to use the cash to launch its next-generation drone delivery platform and expand commercial operations across food, retail, and healthcare.
“As we enter the era of physical AI, we believe 2026 is the inflection point for drone delivery in the United States,” says Andreas Raptopoulos, Founder and Chief Executive Officer at Matternet. “With recent regulatory advances and growing enterprise adoption, we believe the category is entering a phase of exponential growth. With this financing, we are accelerating the development and deployment of our next-generation drone delivery platform to power instant, autonomous delivery for restaurant, retail, and healthcare leaders.”
Raptopoulos adds: “Drone delivery is a magical way to move things from A to B. Instead of sending a two-tonne car across town to deliver a meal or retail item, a small, electric, autonomous aircraft can move it through the air faster, more efficiently, and at lower cost. Matternet has spent more than a decade building the aircraft, ground infrastructure, software, regulatory approvals, and operational experience required to make drone delivery work safely and reliably at scale.”
Matternet has partnered with organisations such as UPS for healthcare logistics and Dave’s Hot Chicken in the restaurant space. In recent weeks, it has also announced a partnership with SoftBank Robotics America to support the deployment of drone delivery networks, and launched drone delivery operations with the NHS in Central London.
2026 RTIH Innovation Awards
Drone delivery will be a key focus area at the 2026 RTIH Innovation Awards.
The awards are now open for entries and celebrate global retail technology innovation in a fast moving omnichannel world.
Our winners will be revealed at the 2026 RTIH Innovation Awards Ceremony, taking place at The HAC in Central London on Wednesday, 4th November.
Check out our 2025 winners here.
Our 2025 hall of fame entrants were revealed during a sold out event which took place at The HAC on 16th October and consisted of a drinks reception, three course meal, and awards ceremony presided over by award winning comedian, actress and writer Tiff Stevenson.
In his welcome speech, Scott Thompson, Founder and Editor, RTIH, said: “This is the awards’ fifth year as a physical event. We started off with just 30 people at the South Place Hotel not far from here, then moved to London Bridge Hotel, then The Barbican, and last year RIBA’s HQ in the West End.”
“But I’m conscious of the fact that, to quote the legend that is Taylor Swift, You’re only as hot as your last hit, baby. So, this year we’ve moved to our biggest venue yet, and also pulled in our largest number of entries to date and broken attendance records.”
He added: “This year’s submissions have without doubt been our best yet. To quote one of the judges: The examples of innovative developments across both traditional and digital retail spaces were truly remarkable.”
Congratulations to our winners, and a big thank you to our sponsors, judging panel, the legend that is Tiff Stevenson, and all those who attended our 2025 gathering.
