Matternet, an autonomous aerial logistics technology company and the only FAA Type-Certified drone delivery platform, announced that it raised approximately $33 million through an oversubscribed private placement offering while completing a go-public reverse merger transaction with Los Altos Ventures Corp., which has been renamed Matternet, Inc.
The company said the financing was led by new investors including Ed Eisler of EE Holdings and Mark Tompkins of Montrose Capital Partners, alongside participation from existing investors. Matternet plans to use the proceeds to launch its next-generation drone delivery platform and expand commercial operations across food, retail, and healthcare sectors.
Matternet said it is now the first publicly reporting pure-play drone delivery company following the reverse merger transaction.
The company’s commercial operations continue to expand across healthcare, logistics, restaurant, and retail markets. Matternet has partnered with organizations including UPS for healthcare logistics and Dave’s Hot Chicken in the restaurant sector. The company also recently announced a strategic partnership with SoftBank Robotics America to support drone delivery network deployments, launched drone delivery operations with the NHS in Central London, and appointed Sanjay Kotte to its board of directors.
Matternet develops the Matternet M2 drone, the Matternet Station, and the Matternet Software Platform. The company operates its technology directly for customers and through logistics partnerships including UPS. According to the company, its technology has enabled more than 60,000 commercial flights across urban and suburban environments in the U.S. and Europe.
The Benchmark Company, LLC and Seaport Global Securities LLC served as lead placement agents for the private placement offering, while Montrose Capital Partners sponsored the go-public transaction.
KEY QUOTES:
“As we enter the era of physical AI, we believe 2026 is the inflection point for drone delivery in the United States. 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.
Drone delivery is a magical way to move things from A to B. Instead of sending a two-ton 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.”
Andreas Raptopoulos, Founder and Chief Executive Officer, Matternet
