Bulgaria-based cargo drone operator Dronamics’ quest for dominance in the mid-range cargo drone sector has just received another €30million shot in the arm.

This follows the company being selected for an equity investment of up to €30million under the European Innovation Council’s (EIC) Strategic Technologies for Europe Platform (STEP), according to a statement released by the company last week.

“As the only European company to repeatedly build, test and fly large cargo drones made entirely in Europe, we have proven we can reduce strategic dependencies and strengthen the EU’s tech sovereignty,” said Svilen Rangelov, Co-Founder and CEO of Dronamics.

“With this decision doubling down on its previous investment in 2024, the EIC is clearly demonstrating Europe’s commitment to taking a proactive role in securing its technological future. It has never been a better time to build a large cargo drone in Europe.”

Founded in Bulgaria in 2021, Dronamics has become one of the most high-profile EU-based aerospace start-ups, as the bloc moves to reinforce its ambitions for strategic autonomy.

The potential investment, which is subject to final due diligence, marks the latest show of support from the EU for Dronamics, the first licensed cargo drone airline in Europe.

Dronamics designs, builds and operates large, long-range drones capable of transporting up to 350kg over distances of up to 2,500km.

The EIC STEP initiative, part of the European Commission’s broader push to bolster critical tech capabilities, offers investments of between €10mn and €30mn per company. It aims to close the funding gap for high-risk, high-impact deep tech projects and to attract further private capital, with the goal of securing funding rounds in the €50million-150million range.

Dronamics is the only European company to have designed, tested and flown large cargo drones manufactured entirely on the continent.

Its Black Swan aircraft claims to deliver goods up to 80 percent faster and 50 percent cheaper than traditional cargo transport, while producing up to 60 percent fewer emissions.

The company has already received a €2.5million grant from the EIC Accelerator programme and secured a €10mn equity investment from the EIC Fund in early 2024.

Dronamics, which operates as a licensed cargo drone airline and is the first drone company to become a strategic partner of the International Air Transport Association (IATA), is positioning its technology as a low-emission, same-day delivery solution for industries ranging from pharmaceuticals to e-commerce.