Manna plans to expand operations in the US and Europe over the next 18 months. Here are the top line bullets you need to know.
Manna, a drone delivery service provider, has raised $25M in a Series A led by Draper Esprit with participation from others.
How’s the company performing?
- Dublin, Ireland-based Manna designs and operates unmanned aerial vehicles to deliver takeout, pharmacy supplies, and groceries weighing up to 3 kilograms. One Manna operator manages multiple drones and can carry out up to 20 deliveries in an hour.
- The company’s main line of business includes food deliveries through partnerships with JustEat and Tesco. However, the company recently tested its pharmacy supply delivery and has partnered with Samsung for smartphone deliveries.
- Manna’s trial service supplies 100 deliveries a day to residents in Oranmore, an Irish town with nearly 10,000 people.
Why does the market matter?
- The delivery drone market is expected to reach $5.6B by 2026, growing at a CAGR of 14%, according to Mordor Intelligence.
- The supply chain disruption due to Covid-19 pandemic had led to an increased usage of drones to deliver critical medical supplies, goods, and takeout in remote and high pandemic risk areas.
- Increasing demand for contactless deliveries and relaxation in government regulations have accelerated the industry’s growth.
- Major players like Google, Amazon, and Deutsche Post DHL Group are developing delivery drones to enter the market.