PABLO AIR, the South Korean-based drone delivery startup Korean startup that revolutionized the delivery service market with its drone delivery service, announced that it has raised $8 million in Pre-Series B funding. The funding round includes investors like KTB Network, Be High Investment, Shinhan Venture Investment, BNK Ventures, and Lotte Ventures.
Company plans to expand overseas
PABLO AIR had attracted $ 1.8 million in Series A funding in 2020 from KTB Network. The company had also successfully attracted additional investment in the pre-Series B within a year. With the latest investment and the First Penguin Business by Korea Credit Guarantee Fund (KODIT), PABLO AIR has $12.5 million of total accumulated funds. The startup plans to utilize the funds to implement technology advancement and expand to overseas markets. Kim Young-Joon, CEO of PABLO AIR, said, “Apart from the Series B investment, we are planning to implement a faster and more convenient drone delivery service with drone logistics hubs that will be built up both in Korea and abroad.”
First domestic drone delivery company
Founded in 2018, PABLO AIR specializes in unmanned aerial hardware and software development company. In 2019, it became the first Korean company to conduct long-distance drone delivery successfully. In March 2019, the startup had organized an art show involving 100 drones, and in June 2020, it had involved 300 drones in the art show. The company will utilize the money to fund its global expansion plans.
Last year, PABLO AIR successfully completed Simultaneous Long Distance Delivery with two drones for 80.6 km. It was the longest distance record delivery service for the first time with a drone in Korea in November 2020. The startup is developing an advanced ground control station to solve the ‘last mile problem’ using drones. PABLO AIR is also developing a drone system optimized for delivery and is working on preparing a solution for delivery service in the sky.
PABLO AIR participated in the K-Drone System Demonstration Support Project; after the consortium was signed recently with Incheon International Airport Corporation. It has carried out many other projects to commercialize drone delivery. PABLO AIR is also working on one of its core technologies. “PAMNet”, and Pablo Air Mobility Network. It is a remote-control system for multi-modal mobility and will enable real-time control of all mobility such as drones, autonomous vehicles, and trucks that will work without human intervention. People will be able to operate unmanned vehicles and monitor or control using PAMNet in real-time from anywhere.
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