Bulgarian cargo airline Dronamics has been selected for an equity investment of up to €30 million under the Strategic Technologies for Europe Platform (STEP), a flagship initiative of the European Innovation Council (EIC). The funding aims to support breakthrough innovations that bolster Europe’s strategic autonomy and technological leadership.
Dronamics, headquartered in Sofia, designs, manufactures, and operates long-range, high-payload cargo drones — the only such drones developed entirely in Europe. Recognized by an independent jury of experts through the EIC evaluation process, Dronamics’ technology is seen as having significant potential to deliver both societal and economic impact.
“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 securing its technological future. It has never been a better time to build a large cargo drone in Europe.”
Under the EIC STEP, the European Commission provides equity investments ranging from €10 million to €30 million, designed to attract private co-investment and create financing rounds worth €50 to €150 million or more. These rounds are critical for scaling up game-changing innovations that otherwise face funding gaps in Europe.
Dronamics is set to receive the maximum investment amount of €30 million, subject to due diligence and final approval by the EIC Fund.
Continued EIC Support
This marks a significant continuation of EIC’s support for Dronamics. The company previously received a €2.5 million grant under the EIC Accelerator program in November 2022, followed by a €10 million equity investment in early 2024. Moreover, Svilen Rangelov, the co-founder and CEO, has been appointed as an EIC Ambassador.
The Black Swan
Dronamics’ drone, the Black Swan, is capable of carrying 350 kg (770 lb) over distances of up to 2,500 km (1,550 mi).
By enabling same-day delivery across long distances, Dronamics aims to provide transformative logistics solutions for industries ranging from pharmaceuticals and e-commerce to automotive and agriculture. Dronamics is also Europe’s first licensed cargo drone airline and a Strategic Partner of IATA for drone technology worldwide.
Member of EU Future Mobility Taskforce
Dronamics is a founding member of the EU Future Mobility Taskforce, a key initiative to advise the EU’s leadership in global transport innovation.
Dronamics partners with 17 private mobility companies across Europe, including both unicorns and startups. The primary goal of the Taskforce is to tackle the significant challenges within the mobility industry.
