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Elroy Air raises $4.6 million for cargo delivery drone

Elroy Air, a San Francisco, California-based cargo drone start-up company announced that is has raised $4.6 million in funding. The cargo drones, Elroy Air is planning to produce, will be capable of transporting up to 150 pounds of cargo for up to 300 miles. Most of the funding came from Levitate Capital, Homebrew, Shasta Ventures, and Lemnos, according to Quartz.