A drone company goes bankrupt

🕊️Fly high, SkyDrop

SkyDrop, one of the original pioneers in the drone delivery industry, has sadly flown its final course. The filed for Chapter 7 bankruptcy, leaving behind a legacy of "what ifs" and valuable lessons learned.

In 2015, it made history with the first-ever FAA-approved drone delivery in the US, delivering essential medical supplies to a remote clinic in Virginia. The feat was even commemorated at the Smithsonian National Air and Space Museum.

🎏 Too many drones up there

However, SkyDrop's journey wasn't smooth sailing. Unlike well-funded competitors like Wing (backed by Google), Amazon and Walmart, SkyDrop had to constantly hustle to stay afloat.

While Wing expanded its services to SkyDrop's home turf of Australia, SkyDrop ventured to New Zealand, partnering with Domino's Pizza for drone deliveries. This venture, though a what seemed like a good idea at the time, couldn't secure the company's financial future.

💸 Bankruptcy

Despite this promising future, SkyDrop struggled to secure funding and partnerships needed to compete.

SkyDrop's attempt to open-source its technology ultimately proved unsuccessful. In the end, the company ran out of funds and was forced to shut down its team.