Indianapolis-based DRONEDEK says it is having success using a crowdfunding platform to raise capital for its secure drone delivery technology. So much so, the company says pre-set limits via the WeFunder platform have been increased to $5 million.
The developer of the high-tech mailbox system says it quickly surpassed its goal of raising $1 million.
“We were really pleased with the initial raise, and when WeFunder removed its million-dollar limit for projects like ours, we quickly agreed to seek that higher level,” said Dan O’Toole, DRONEDEK CEO and Founder.
Meanwhile, DRONEDEK says it expects to take delivery of its first smart mailbox this spring and plans to launch production in the second quarter of 2021.
The company says the unit will be able to accept traditional mail or packages via an unmanned aerial vehicle or in-person delivery. It gets locked inside the smart mailbox.
“They have the highest valuation of any pre-revenue company to successfully crowdfund since the advent of crowdfunding,” said Travis Brodeen, co-founder of Newchip, the largest equity crowdfunding Marketplace, which is advising DRONEDEK.
Last month the company said it would establish its headquarters in the city of Lawrence, giving the startup a centrally located facility where it can grow. DRONEDEK says it also plans to create 85 jobs by 2025.
DRONEDEK CEO Dan O’Toole appeared on Inside INdiana Business with Gerry Dick in January.