Technology

Matternet raises $33M, goes public to expand restaurant drone delivery

Photo: Matternet

June 1, 2026

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Matternet, an autonomous aerial logistics technology company, has raised $33 million in an oversubscribed private placement offering. Concurrent with the funding, the company completed a go-public reverse merger with Los Altos Ventures Corp., and was renamed Matternet Inc., making it the first publicly reporting, pure-play drone delivery company.

The company plans to use the capital to launch its next-generation drone delivery platform and expand commercial operations across the food, retail and healthcare sectors.

Matternet, which holds a Federal Aviation Administration type certification for its drone delivery platform, has been accelerating its commercial momentum in the restaurant space. The company recently partnered with fast casual brand Dave's Hot Chicken to explore food delivery solutions. It also announced a strategic partnership with SoftBank Robotics America to support the deployment of drone delivery networks.

"As we enter the era of physical AI, we believe 2026 is the inflection point for drone delivery in the United States," Andreas Raptopoulos, founder and CEO of Matternet, said in a company press release. "With recent regulatory advances and growing enterprise adoption, we believe the category is entering a phase of exponential growth."

Raptopoulos said drone delivery offers a more efficient, lower-cost alternative to traditional hospitality delivery models.

"Instead of sending a 2-ton car across town to deliver a meal or retail item, a small, electric, autonomous aircraft can move it through the air faster, more efficiently, and at lower cost," he said.

The financing round was led by new investors, including Ed Eisler of EE Holdings and Mark Tompkins of Montrose Capital Partners, alongside participation from several existing investors. The Benchmark Company LLC and Seaport Global Securities LLC served as lead placement agents, while Montrose Capital Partners sponsored the transaction.

Matternet's technology has enabled over 60,000 commercial flights across urban and suburban environments in the U.S. and Europe.