Business · South San Francisco
Zipline raises $1.5 billion at $21.5 billion valuation to expand Walmart drone deliveries
The South San Francisco drone delivery company closed a funding round on Thursday, 5 November 2026 and expanded its Walmart partnership. The new multi-year agreement adds 300 drone delivery sites across the United States, a steep rise from the 21 sites the two companies currently run together.
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In brief
Paradigm, WCM Investment Management and Layer Global led the round, which values Zipline at $21.5 billion post-money.
A new multi-year agreement adds 300 sites across the United States, against 21 active sites the companies run together now.
The company said its share of delivery revenue grew from 10.8% in March to 34.9% in October 2026.
- 2021Walmart drone delivery agreement struck
- 2022FAA grants Part 135 air carrier certification
- 5 NovRaises $1.5 billion at $21.5 billion valuation and expands Walmart partnership
Funding and valuation
Zipline, a drone delivery service based in South San Francisco, said on Thursday, 5 November 2026 that it had raised $1.5 billion at a $21.5 billion post-money valuation. Paradigm, WCM Investment Management and Layer Global led the round. Valor Equity Partners, Fidelity Management & Research Company, Uber, Tiger Global, J.P. Morgan, ARK Invest and Salesforce Ventures also took part. The company said the money will go toward enlarging its US manufacturing facilities and hiring staff for a nationwide drone delivery network.
Walmart expansion
Alongside the raise, Zipline and Walmart Inc. agreed to a new multi-year deal that adds 300 drone delivery sites across the United States. The two companies have worked under a drone delivery agreement since 2021, and they currently operate 21 active sites together. The expansion is the main commercial step in the announcement, and the new sites would multiply the existing network many times over.
Share of delivery revenue
The company said its share of delivery revenue rose from 10.8% in March to 34.9% in October 2026. The new funding is meant to push that share higher still, according to the company's Thursday statement.
- March 2026
- 10.8 %
- October 2026
- 34.9 %
Data from the article text
Company background
Zipline was founded in 2014 and began in Africa, where its autonomous drones delivered blood in Rwanda before the service expanded to Ghana and Nigeria. Its first US flights in 2020 carried medical equipment and supplies for Novant Health in North Carolina. The following year the company struck its deal with Walmart. In 2022 the Federal Aviation Administration granted it Part 135 air carrier status, which allowed long-range commercial drone deliveries. Zipline has also partnered with Uber, a link formed earlier in 2026.
Current operations
The network currently delivers food, retail, agricultural and health products in five African countries, several US cities and Japan. Home delivery runs on Platform 2 drones, which carry up to eight pounds to customers within a 10-mile radius. Platform 1 drones handle longer routes for enterprise, business and government customers, covering up to 120 miles round trip.
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Sources and context
- Places
- United States, Africa, Ghana, Nigeria, North Carolina, Rwanda
- Organizations
- Amazon
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