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Fortune

Lily Mae Lazarus

ARK Invest is betting on underdog drone delivery company Manna to compete with Alphabet and Zipline

Manna Zipline Ark Invest Bobby Healy Drone United States Amazon Fortune Term Sheet Wing

Bobby Healy stands in front of a Manna drone with his arms crossed. (Credit: Courtesy of Manna)

Bobby Healy is at peace with his drone delivery enterprise being unsexy. “Think of us like a low-cost airline,” the Manna CEO told Fortune. That pitch just landed him $50 million.

Manna, the Irish drone delivery startup, closed a Series B this month backed by ARK Invest—Cathie Wood’s firm, known for early investments in OpenAI, Tesla, and SpaceX—along with the Ireland Strategic Investment Fund, Schooner Capital, Coca Cola HBC, and Molten Ventures. The capital will be put towards expanding Manna’s U.S. and European operations. Total funding now sits at $110 million.

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