Matternet, a leading autonomous aerial logistics technology company and the only FAA Type-Certified drone delivery platform, today announced that it has raised approximately $33 million in an oversubscribed private placement offering. Concurrent with the financing, Matternet completed a go-public reverse merger transaction with Los Altos Ventures Corp., which has been renamed Matternet, Inc. and will continue the historic business of Matternet.

The financing was led by a group of new investors, including Ed Eisler of EE Holdings and Mark Tompkins of Montrose Capital Partners, and included participation from several existing investors. The Company intends to use the proceeds to launch its next-generation drone delivery platform and expand commercial operations across food, retail, and healthcare.

“As we enter the era of physical AI, we believe 2026 is the inflection point for drone delivery in the United States,” said Andreas Raptopoulos, Founder and Chief Executive Officer of Matternet. “With recent regulatory advances and growing enterprise adoption, we believe the category is entering a phase of exponential growth. With this financing, we are accelerating the development and deployment of our next-generation drone delivery platform to power instant, autonomous delivery for restaurant, retail and healthcare leaders.”

Mr. Raptopoulos continued: “Drone delivery is a magical way to move things from A to B. Instead of sending a two-ton car across town to deliver a meal or retail item, a small, electric, autonomous aircraft can move it through the air faster, more efficiently, and at lower cost. Matternet has spent more than a decade building the aircraft, ground infrastructure, software, regulatory approvals, and operational experience required to make drone delivery work safely and reliably at scale.”

Matternet’s commercial momentum continues to accelerate across healthcare, logistics, restaurant, and retail markets. The Company has partnered with organizations such as UPS for healthcare logistics and Dave’s Hot Chicken in the restaurant space. In recent weeks, Matternet also announced a strategic partnership with SoftBank Robotics America to support the deployment of drone delivery networks, launched drone delivery operations with the NHS in Central London, and appointed Sanjay Kotte to its Board of Directors.

The Benchmark Company, LLC and Seaport Global Securities LLC served as lead placement agents for the private placement offering. Montrose Capital Partners sponsored the go-public transaction.

As a result of the reverse merger, the Company is now subject to the public reporting requirements of the Securities Exchange Act of 1934, as amended. The securities issued in the acquisition and sold in the private placement have not been registered under the Securities Act of 1933, as amended (the “Act”), and may not be resold absent registration under, or an applicable exemption from registration under, such Act.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

About Matternet

Matternet is a leading developer of commercial drone delivery systems for urban and suburban environments. The company builds the Matternet M2 drone, the Matternet Station, and the Matternet Software Platform and operates its technology directly for customers or in partnership with logistics organizations such as UPS. Matternet has achieved many industry firsts, including being the first company authorized for commercial Beyond Visual Line of Sight (BVLOS) drone delivery operations over cities in Switzerland, the first to launch routine revenue-generating drone delivery operations in the U.S., and the first to achieve standard Type Certification and Production Certification from the U.S. Federal Aviation Administration (FAA). Matternet is partnered with UPS and Ameriflight, which have received approval from the FAA to operate the Matternet M2 under Part 135. Matternet has operated commercially for more than a decade, beginning with humanitarian drone delivery missions in 2014, launching B2B healthcare operations in Europe in 2017 and the U.S. in 2019, and expanding into B2C drone delivery operations in Silicon Valley in 2024. To date, Matternet’s technology has enabled more than 60,000 commercial flights across dense urban and suburban environments in the U.S. and Europe.

For more information, visit matternet.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections based on management’s beliefs and assumptions and on information currently available to management and are subject to risks and uncertainties that could cause results to be materially different than expectations. Forward-looking statements relate to, among other things, the Company’s intent to scale its drone delivery system, expand commercial availability across restaurant, retail, and healthcare markets, and advance its next-generation autonomous delivery platform, as well as other plans, objectives, expectations, business strategy, growth opportunities, market opportunity, commercial expansion, regulatory developments, financing plans, use of proceeds, public listing plans, and future operating performance.

Important factors that could cause actual results to differ materially from those expressed or implied include, among others, risks related to the Company’s ability to scale commercial operations, obtain and maintain regulatory approvals, manufacture and deploy its technology at scale, secure customer contracts and strategic partnerships, access capital, compete effectively, and execute its business plan, as well as other factors detailed from time to time in the reports the Company files with the Securities and Exchange Commission (“SEC”). Copies of reports filed with the SEC are posted on the Company’s website and are available without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, the Company disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.