Lawrence-based Dronedek is launching a $5 million crowdfunding campaign on the StartEngine platform. Dronedek, which is known for its patented smart mailbox, says the additional funding will help produce units to be distributed throughout the U.S.
Dronedek’s smart mailbox that works with traditional, ground robotics, and drone delivery services. The startup says it raised more than $100,000 within the first 24 hours of the campaign.
“We’re big fans of Kevin O’Leary and as we work toward rolling out thousands of Dronedek units next year, we thought it was the right platform for us to continue to raise money,” said Dronedek founder Dan O’Toole. “We’ve just been inundated with major delivery outlets and others wanting to learn about the company and work with us, so we’re kind of pumped, to tell you the truth.”
The company, which has previously raised more than $7 million through crowdfunding and other investments, plans to create a new market category called MaaS, or Mailbox as a Service.
“We were ahead of the pack in securing patents for our smart mailbox, and we intend to be first in line for offering the solution to how folks are going to receive autonomous delivery,” O’Toole said. “People are used to traditional mailbox and porch delivery, which is ripe for theft and doesn’t offer anything to protect their packages. With Dronedek, they can safely and securely receive anything from ordinary mail to prescription medicine, and it will wait for them to get home.”
The drone package delivery market is expected to be worth $51 billion by 2028.
Last year, Dronedek signed an agreement with Bharat Electronics Limited, a defense contractor in India, to produce the smart mailboxes. O’Toole says U.S. distribution of Dronedek will begin early next year.
At press time, Dronedek’s campaign had raised more than $220,000 towards the $5 million goal.