Zipline Raises $1.5B at $21.5B, Nearly Triple Its January Valuation

Zipline closed a $1.5 billion raise at a $21.5 billion post-money valuation, led by Paradigm, WCM Investment Management, and Layer Global, the company said in its November 5 release. That is about 2.8 times the $7.6 billion valuation Zipline announced on January 21, 2026.

The numbers

• $1.5 billion at a $21.5 billion post-money valuation. Paradigm, WCM Investment Management, and Layer Global led.
• Also participating: Valor Equity Partners, Fidelity Management & Research Company, Uber, Tiger Global, J.P. Morgan, ARK Invest, and Salesforce Ventures.
• On January 21, 2026, Zipline said it had raised more than $600 million and was valued at $7.6 billion. $21.5 billion is about 2.8 times that January valuation.
• Zipline said the new capital will expand U.S. manufacturing and hiring for a nationwide drone delivery network.
• Walmart and Zipline are launching 300 additional sites under a new national multi-year agreement. Uber is targeting one million Zipline deliveries a day by 2029.

Walmart sites and the Uber target

Zipline said it and Walmart are working together to launch 300 additional sites, and that the agreement can grow further. TechCrunch reported the same day that the companies have partnered on drone delivery since 2021 and now have 21 active sites together. Zipline's own release does not state that site count.

Uber is targeting one million deliveries a day with Zipline by 2029, the company said. Uber is also an investor in the round. The release does not say how much Uber invested, or what daily volume the partnership runs now.

"Zipline is now one of the largest autonomous robotics companies in the world, operating with scale, safety, and a magical user experience for consumers and merchants."

Matt Huang, co-founder and managing partner of Paradigm

What the company says the network already does

Zipline said a cohort of its longest-tenured restaurant partners saw Zipline's share of their delivery revenue rise from 10.8% to 34.9% between March and October. Those restaurants saw a 26% increase in delivery gross merchandise value, and Zipline orders accounted for 80% of that increase. The company said the orders were incremental and did not cut demand on other platforms.

In the Dallas-Fort Worth metroplex, Zipline said it completed more than one million deliveries this year. In October, the median order arrived 19 minutes after checkout, against more than 30 minutes for traditional delivery. The median bakery order arrived in 10 minutes.

Where the money goes

Zipline said the capital expands its U.S. manufacturing and funds hiring for the nationwide network. The release also describes a recent acoustics change, sound-optimized dynamic flying, and a next-generation aircraft built to fly higher and quieter while carrying heavier orders farther. It does not name a factory, a hiring target, or an opening date for the 300 Walmart sites.

What we are watching

Zipline did not name the round. It also did not say whether any of the $1.5 billion was a secondary sale. The operating claims are the company's own. It says it has flown 150 million commercial autonomous miles without a safety incident, and that its medical deliveries help save more than 14,000 lives a year. In Côte d'Ivoire, it says it is building a network expected to serve more than 2,200 health facilities and 12 million people. The next figures that would confirm the story are narrower. The 300 Walmart sites have to open, and Uber's one-million-a-day target has to show up as disclosed volume.