Andy Walsh explains his investment in Manna, a Tulsa drone delivery startup that has completed 250,000 flights. Drones bring delivery costs down to about $1 versus $8-$12 for DoorDash, opening a market for ultra-cheap on-demand delivery like sending a missing ingredient to someone cooking.
Chapters
We led investing in a company called Manna 5 years ago. They're headquartered in Tulsa, Oklahoma now, and they've done a quarter million flights, last-mile drone delivery. Last-mile drone delivery makes so much sense. 7 years ago it was like visionary. Today it's production. It still seems weird to people, but you can get cost delivery down to a dollar. And a dollar delivery versus $8 to $12 for putting someone in a car and DoorDashing yourself, completely different business model. Demand explodes, et cetera. And it's fascinating, but people look at it like, well, okay, delivery market, that's the size. That's what I'm like. No, it's going to be so much bigger. It's going to be so much. And we've even seen it now from what people do and use it. You're cooking up something, you're missing one ingredient, you get it shipped over.