Arrive – an smart mailbox company (formerly known as Dronedek) – recently announced that it raised more than $1.3 million from 428 investors, most of them new to the Indianapolis-based innovator. This is the second time Arrive has eclipsed $1 million in crowdfunding efforts. And the company now has nearly 5,000 individual investors and has raised more than $9 million in its total fundraising efforts since the company was founded in 2014. The startup now employs 15 people worldwide.
The company is poised to solve the most significant issues in package delivery. For consumers, that’s the security of the more than 36 million packages now commonly left unprotected on porches and driveways daily. An estimated 1.7 million packages a day are stolen before their owners can pick them up.
For businesses, Arrive helps drop costs of the supply chain’s most expensive and challenging part – the last mile – by adding a secure mailbox that can keep packages safe from theft and accept delivery via human or autonomous means, all while providing documented chain-of-custody. By 2028, the autonomous last-mile delivery market is expected to surpass $51 billion.
For the world, autonomous delivery can help reduce carbon emissions created by traditional delivery means and will help reduce traffic congestion and safety issues. Experts estimate 20% to 30% of a city’s carbon dioxide emissions result from last-mile deliveries.
Arrive CEO Dan O’Toole is known as the first in the United States to secure patents for a smart mailbox designed to accept packages delivered by drone securely and holds a first-position patent portfolio for the next-generation mailbox of autonomous and drone delivery.
KEY QUOTE:
“This demonstration of support for our product is really important as we get closer to distribution. We’ve been working steadily for the past nine years, hitting all our targets and constantly iterating as the industry advances. We’re more than ready to be out there in the field.”
— Arrive CEO Dan O’Toole
