High profile drone maker Swoop Aero has entered voluntary administration, one of its founders, Eric Peck announced today.
The administrators are BPS Reconstruction and Recovery in Melbourne, and were appointed on October 14, for Swoop Aero associate company Kookaburra Aerospace as well.
"This was a strategic decision made by our board to protect the long-term interests of the business and our stakeholders," Peck said.
"This move comes after a challenging period, and it’s the right step to position Swoop Aero for future growth and sustainability," he added.
"We have a specialised core team in place to continue developing our [intellectual property], integrating new airframes, and maintaining airworthiness, while outsourcing the manufacturing of our Kite airframe through mature, streamlined processes."
"Our active order book, which includes key lighthouse customers in critical markets, alongside our substantial asset base, makes us well-prepared for the next phase of growth," Peck said.
I’m confident that with the right support, Swoop Aero will continue to lead the way in drone logistics, delivering innovative solutions and transforming healthcare and essential goods delivery across the globe.
Applied AI competency firm DiUS partnered with Swoop Aero last year to use the technology to improve reliability, security and safety of its drone service, including computer vision for safer landings of the craft.
Swoop Aero hit the news two years ago after delivering Covid-19 vaccines via drones to Malawi, while maintaining the chilled conditions required for the medications.
Prior to the Malawi vaccine delivery, Swoop Aero undertook a similar mission in Vanuatu.
Set up by Peck and engineer Joshua Tepper in 2017, Swoop Aero has received venture capital including a Series B raise of $16 million led by Australia's Main Sequence, in 2022.
The same year Swoop Aero walked away from a $100 million takeover offer from the United States.
-1.jpg&w=100&c=1&s=0)
.png&w=100&c=1&s=0)
