Indianapolis, July 10, 2023 — The Indianapolis-based inventor Arrive, formerly Dronedek, reported receiving more than USD 1.3 million from 428 investors, most of whom were new to the intelligent mailbox startup. The investment round ended on July 7, a Friday.
It’s the second time Arrive has raised more than USD 1 million through crowdsourcing. Since the business was established in 2014, it has amassed approximately 5,000 individual investors and more than USD 9 million in total funding. Fifteen employees are now working at the startup worldwide.
According to Arrive CEO Dan O’Toole, this show of support for our product is crucial as we near distribution. “For the past nine years, we have been working consistently, achieving our goals, and making adjustments as the market develops. We are more than prepared to enter the field.
The biggest problems in package delivery could soon be resolved thanks to Arrive. For customers, that refers to the safety of the more than 36 million packages left daily unguarded on driveways and porches. Before their owners can pick them up, an estimated 1.7 million daily shipments are stolen.
By adding a secure mailbox that can protect parcels from theft and accept delivery via human or autonomous means, Arrive helps businesses cut costs of the supply chain’s most expensive and challenging element – the last mile – while maintaining a verifiable chain of custody. The market for autonomous last-mile delivery is anticipated to reach $51 billion by 2028.
Autonomous delivery can improve the world’s environment by reducing carbon emissions from conventional delivery methods, traffic congestion, and safety concerns. Experts estimate that last-mile deliveries are responsible for 20–30% of a city’s CO2 emissions.
Arrive (previously Dronedek), a cutting-edge technology business headquartered in Indianapolis, Indiana, is revolutionizing last-mile delivery and pickup. Arrive, founded by serial entrepreneur Dan O’Toole, enables the safe, seamless transfer of goods and supplies between people, robots, and drones to meet the expanding needs of autonomous drones and robotic delivery. With secure and climate-controlled cargo space, intelligent alerts, and chain of custody, the company’s innovative Mailbox-as-a-Service platform and infrastructure solutions enable Autonomous Delivery Networks (ADNs) to operate more effectively. Applications, APIs, and procedures that let partners and clients make the most of traditional carriers, couriers, and ADNs are available. The business has established strategic alliances with numerous industry titans and raised over $9 million from under 5,000 investors.
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