Manna drone delivery service to expand to Cork
Gordon Deegan
Drone delivery service Manna is set to expand to Cork as new s show that the Dublin-based firm’s pre-tax losses in 2023 increased by 24.5 per cent to €12.33 million due to start-up costs.
New s filed by Manna Drones Ltd show that the company’s €12.33 million pre-tax for 2023 followed a pre-tax loss of €9.9 million for 2022.
The company recorded modest revenues of €20,439 in 2023 ahead of its launch of drone deliveries in the Dublin area in 2024.
A note attached to the s confirms additional fund-raising of at least $30 million (€27.78 million) and the directors state that “this continued strengthening and deepening of our relationships with financial providers demonstrates the confidence in the business felt by a wide range of debt and equity capital”.
In an upbeat statement today on the company’s prospects, a company spokesman said that Manna “is well-positioned to scale rapidly”.
He said: “Manna Air Delivery is on course to becoming the dominant deep tech company in drone delivery, investing ambitiously in the future—just as pioneers like SpaceX, DeepMind, and Moderna have done.
He said: “Since 2023, we have launched multiple commercial locations, including Blanchardstown in 2024, which now delivers to 42 per cent of households in the area and has received high consumer satisfaction ratings.
"We’re also operating in Finland and executing a broader expansion plan across Europe, ed by international partnerships with Just Eat and Wolt (Doordash’s European brand).
He said: “We are proud to be the first drone company in the world to achieve per-flight profitable unit economics at scale, a significant milestone in aerial logistics.
"Our new hub in Glasnevin serves as the backbone of Aerial Logistics for our European operations, and we are now reaching up to 1 million people in Dublin through our identified delivery zones. We also look forward to announcing our first location outside Dublin, in Cork."
He said: “With a growing team of 120 staff, continuous innovation in drone technology and software orchestration over the last few years, and the backing of top-tier investors and Enterprise Ireland following our recent funding announcement, Manna is well-positioned to scale rapidly and bring faster, more efficient air delivery to s—empowering retail businesses to grow and thrive.
In a recent post on LinkedIn, founder of the business and chief executive, Bobby Healy stated: “We are very excited about this growth phase of the business which will put Manna and Ireland firmly in number one position worldwide for drone delivery."
Staff costs in 2023 increased from €4.69 million to €5.22 million as numbers employed reduced marginally from 93 to 90. Directors’ pay totalled €250,000.
The loss includes an intercompany re-charge of €3.49 million.
The company had a post tax loss of €11.77 million after recording a corporation tax credit of €561,215.
Accumulated losses at the end of 2023 totalled €31.16 million.
