Walmart, Zipline teaming up to launch 300 additional drone delivery

Retailer Walmart and Zipline, an autonomous drone delivery network, are teaming up to launch 300 additional sites as part of a new national multi-year agreement.

Uber is targeting one million deliveries a day with Zipline by 2029.

The news comes as Zipline announced a $1.5 billion raise at a $21.5 billion post-money valuation, according to a press release.

The funding round was led by Paradigm, WCM Investment Management and Layer Global with participation from Valor Equity Partners, Fidelity Management & Research Company, Uber, Tiger Global, J.P. Morgan, ARK Invest and Salesforce Ventures, according to a press release.

Zipline will use the capital to expand its U.S. manufacturing facilities and ramp up hiring as it builds a nationwide drone delivery network.

A cohort of Zipline's longest-tenured restaurants shared results to date: between March and October, Zipline's share of their delivery revenue grew from 10.8% to 34.9%.

Ten years after its first flights, Zipline is the largest autonomous delivery service, with 150 million commercial autonomous miles flown without a safety incident, according to the release.