Zipline in Talks to Raise Funds at $20 Billion Valuation

Zipline, a startup making drones that can deliver small packages like meals and medical supplies, is in talks to raise new funds at a valuation of roughly $20 billion, according to two people with knowledge of the fundraise.

The funding round, if it closes, would more than double its valuation from its last funding round, which valued the company at $7.6 billion after the investment. It follows a partnership announced last month with Uber to expand delivery by drones across the U.S. and expectations by investors that the costs of drone delivery are falling, expanding what was once a niche market.

The funding indicates fresh excitement from venture capitalists in delivery startups, which have had mixed success over the last few years.