Zipline is reportedly discussing a roughly $1 billion funding round at a $20 billion valuation, up sharply from its latest confirmed valuation of $7.6 billion. The valuation followed an $800 million Series H completed in two tranches in January and March 2026, after the company’s $4.2 billion Series F valuation in 2023. The proposed round, reported by two people with knowledge of the fundraise, has not been publicly confirmed. Zipline has raised between $1.8 billion and $2.0 billion since its 2014 founding, and a completed raise of this size would bring cumulative funding close to $3 billion. The company has completed more than 2 million commercial deliveries worldwide and reports domestic delivery volumes growing 15% weekly. Its Platform 1 handles long-range logistics, while Platform 2 targets higher-frequency home deliveries of items including meals and medical supplies. Zipline is also discussing expanded operations with the FAA and recently announced a partnership with Uber to expand drone delivery across the U.S., with launch planned by the end of 2026. At $20 billion, Zipline would be valued at about 2.6 times its latest confirmed valuation. The company’s domestic growth rate remains a key figure for investors assessing that price.