Matternet Secures $33 Million in Funding and Completes Reverse Merger to Go Public

Matternet Goes Public and Secures Funding for Drone Delivery Expansion

Matternet has raised approximately $33 million through an oversubscribed private placement and completed a reverse merger with Los Altos Ventures Corp., which has now been renamed Matternet, Inc. The company, based in Mountain View, is recognized as the only operator with FAA Type Certification for a drone delivery platform.

The funding round was led by Ed Eisler of EE Holdings and Mark Tompkins of Montrose Capital Partners, with participation from several existing investors. The Benchmark Company and Seaport Global Securities acted as lead placement agents, while Montrose Capital Partners sponsored the go-public transaction.

Funding to Support Next-Generation Drone Delivery Platform

The proceeds from the funding will be utilized to develop Matternet’s next-generation drone delivery platform and to expand its commercial operations in sectors such as food, retail, and healthcare. The company currently manufactures the Matternet M2 aircraft, the Matternet Station, and the Matternet Software Platform.

Andreas Raptopoulos, Founder and CEO of Matternet, stated, “As we enter the era of physical AI, we believe 2026 is the inflection point for drone delivery in the United States. With recent regulatory advances and growing enterprise adoption, we believe the category is entering a phase of exponential growth. This financing will accelerate the development and deployment of our next-generation drone delivery platform.”

Partnerships and Commercial Growth in Healthcare and Retail

Matternet has established partnerships with UPS for healthcare logistics and with Dave’s Hot Chicken in the restaurant sector. Recent developments include a strategic partnership with SoftBank Robotics America, the initiation of NHS drone delivery operations in Central London, and the appointment of Sanjay Kotte to the board of directors.

Raptopoulos remarked on the efficiency of drone delivery, stating, “Instead of sending a two-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.”

Since 2014, Matternet has conducted over 60,000 commercial flights across cities in the U.S. and Europe. Both UPS and Ameriflight hold FAA Part 135 authorization to operate the Matternet M2 aircraft.