Walmart Invests In Nationwide On-Demand Drone Delivery Provider DroneUp

• Walmart Inc (NYSE: WMT) has announced its investment in DroneUp, a nationwide drone services provider, to develop a scalable last-mile delivery solution.

• The financial terms of the deal were not disclosed.

• Walmart has already partnered with DroneUp to launch trial deliveries of at-home COVID-19 self-collection kits.

• DroneUp operates an on-demand drone delivery network that matches their database of more than 10,000 Federal Aviation Administration (FAA) certified pilots to missions nationwide.

• DroneUp operates commercially throughout the U.S. and is an authorized government drone services provider for 11 U.S. states serving public sector organizations.

• Walmart’s 4,700 stores stocked with more than 100,000 of the most purchased items, located within 10 miles of 90% of the U.S. population, will help execute drone deliveries.

• The first drone delivery operation will be at a store in Bentonville, Arkansas.

• Walmart held cash and equivalents of $22.9 billion as of April 30, 2021.

• Price action: WMT shares are trading higher by 0.46% at $137.78 on the last check Thursday.

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