Zipline Raises $1.5 Billion at $21.5 Billion Valuation as Walmart Expands Drone Delivery Partnership

US-based autonomous drone delivery startup Zipline has raised $1.5 billion in a new funding round, reaching a valuation of $21.5 billion as it expands its partnership with Walmart and accelerates plans to build a nationwide drone delivery network.

The funding round was led by Paradigm, WCM Investment Management and Layer Global. Other participating investors include Valor Equity Partners, Fidelity Management & Research Company, Uber, Tiger Global, J.P. Morgan, ARK Invest and Salesforce Ventures.

Alongside the investment, Zipline and Walmart have signed a new multi-year agreement to add 300 drone delivery sites across the United States. The expansion represents a significant increase from the 21 active drone delivery sites the companies currently operate together.

Zipline plans to use the fresh capital to expand its US manufacturing facilities and hire additional workers to support the development of its nationwide delivery network.

Walmart Partnership Expands to 300 New Delivery Sites

The expanded agreement marks a major step in Zipline's relationship with Walmart, which began in 2021.

Under the new multi-year arrangement, the companies plan to add 300 drone delivery sites across the US. This is a substantial expansion from their existing network of 21 active locations.

The partnership is an important part of Zipline's US growth strategy as it looks to bring autonomous delivery services to more customers.

The company has also developed partnerships across different industries, including healthcare, retail and food delivery. Its collaboration with Uber, announced earlier in 2026, adds another channel for expanding drone-based deliveries.

Building an End-to-End Drone Delivery Network

Founded in 2014, Zipline has developed an integrated drone delivery ecosystem covering aircraft, launch and landing systems, and logistics software.

The company initially gained recognition through its operations in Africa, where it used autonomous drones to deliver blood and medical supplies in Rwanda before expanding into Ghana and Nigeria.

It later entered the US market in 2020 through a partnership with Novant Health in North Carolina, delivering medical equipment and supplies.

A major regulatory milestone came in 2022, when Zipline received Part 135 air carrier certification from the Federal Aviation Administration. This certification enabled the company to conduct long-range commercial drone deliveries.

Today, Zipline operates across five African countries, several US cities and Japan, delivering food, retail, agricultural and healthcare products.

Two Drone Platforms for Different Delivery Needs

Zipline operates two main drone platforms designed for different delivery requirements.

Platform 2 is built for home deliveries and can carry up to eight pounds of cargo. It is designed to serve customers within a 10-mile radius.

Platform 1 is designed for longer-range deliveries for enterprise, business and government customers. It can cover round trips of up to 120 miles.

Together, these platforms allow Zipline to serve both individual consumers and institutional customers through its broader logistics network.

Delivery Revenue Share Shows Growth

Zipline reported that its share of delivery revenue increased from 10.8% in March to 34.9% in October 2026.

The company expects the latest funding and expansion of its delivery network to support further growth in this metric.

The increase comes as Zipline expands its partnerships and adds more locations to its US operations.

Funding to Accelerate Manufacturing and Expansion

The $1.5 billion investment will support the expansion of Zipline's US manufacturing facilities and recruitment of additional workers.

The company aims to strengthen its ability to manufacture drones at scale while building the infrastructure required for a nationwide delivery network.

The Walmart agreement, combined with partnerships across healthcare, retail and food delivery, gives Zipline multiple channels to expand its operations.

What Comes Next for Zipline?

With a $21.5 billion valuation and a major expansion agreement with Walmart, Zipline is positioning itself to scale autonomous delivery beyond its existing markets.

Its next challenge will be executing the planned rollout of 300 additional Walmart delivery sites while expanding manufacturing capacity and maintaining reliable operations.

The company's ability to turn its growing network into sustainable delivery revenue will be an important measure of its progress as drone delivery moves towards broader commercial adoption.