One day, drones will deliver our packages, meals, and groceries. A couple of companies, including Zing Drones, are ready to enter the market as soon as regulations make the industry legal and financially viable. 

We talked to Ian Annase, founder and CEO of Zing Drones, about the challenges of the industry and the competitive landscape the company is facing.

Funding Round Details

Zing Drone Solutions logo
Company: Zing Drone Solutions
Security Type: SAFE
Valuation: $7,500,000
Min Investment: $500
Platform: Wefunder
Deadline: Jul 15, 2024
$124,000
View Deal

In your own words, how would you describe your company?

Zing is at the forefront of commercial drone technology innovation. Our company has developed two FAA-approved products, the Z-RID and Z-RID Lite, adopted by over 1,000 customers nationwide. We are pioneers in drone delivery operations, having conducted some of the earliest trials in the country. We aim to create impactful drone solutions that drive change and efficiency in various industries. We are participating in two prestigious accelerator programs, which have significantly contributed to our recent product-market fit and substantial revenue growth.

What inspired you to take the leap and start this company?

I’ve always been passionate about technology. I started programming at a young age and quickly became captivated by tech innovation and the startup ecosystem. In 2018, I bought my first drone and was amazed by its capabilities. This experience ignited my belief that drones would be integral to our future. Motivated by this vision, I decided to pursue my passion full-time in 2019, supported by a local angel investor. I began developing the intellectual property that has since evolved into our current suite of products.

Who is on your team and how did you come together?

Our team at Zing is composed of a diverse group of talented individuals, including licensed drone pilots, engineers from MIT, and a seasoned advisory board with multiple successful exits. Each team member brings unique expertise and has significantly contributed to our product development, strategic planning, and company milestones. We came together through a shared passion for drone technology and a common goal to revolutionize the industry.

What are the challenges and opportunities that arise from developing drone deliveries?

 In 2018, we identified a unique market opportunity for drone deliveries despite widespread skepticism about their feasibility. Recently, the FAA Reauthorization Bill of 2024 mandated the FAA to finalize regulations for fully autonomous flight in the United States. This legislative milestone is set to unlock massive opportunities for commercial drone delivery operations, allowing us to expand and scale our services significantly.

What does the competitive landscape look like, and how do you differentiate?

The drone industry is becoming increasingly competitive as companies prepare for the anticipated regulatory changes. Many have been developing advanced technologies behind the scenes, ready to deploy once regulations are in place. At Zing, we differentiate ourselves through our early market entry, extensive field experience, and innovative solutions like our FAA-approved Z-RID products. Our proactive approach to regulatory compliance and commitment to cutting-edge technology set us apart in the industry.

If we talk again in 12 months, which milestones will you have achieved?

In the next 12 months, Zing aims to achieve several significant milestones. On the business front, we plan to raise a $1 million seed round from venture capitalists and angel investors by Q4 2024. We also intend to commercially launch our new Z-SCAN product targeted at the law enforcement market, diversifying our revenue streams. Additionally, we will be participating in the Oregon UAS Accelerator program in Pendleton, which includes a $40,000 grant and valuable business mentorship, further accelerating our growth and innovation.