Flytrex secures $3m in new funding round

Israel-based delivery drone specialist Flytrex has raised $3m in a new funding round. The funding was led by Armada VC, together with several private angel investors.

Flytrex has a number of projects on the go, including a parcel delivery service with Ukraine’s UkrPoshta.

“We believe drone deliveries to be a $100bn opportunity in the years to come,” said Flytrex founder and CEO Yariv Bash. “This is not another app company with short term exit strategy, but a disruptive company with a long term goal of changing the way consumers behave – complementing the instant online shopping experience all the way to the customer door step.”