Uber will invest in drone delivery company Zipline and partner with it, with a goal of reaching 1 million deliveries a day by the end of 2029 using the startup's drones. According to Sina Finance, Zipline drones are set to begin delivery service on the Uber Eats platform by the end of this year, starting in Zipline's existing operating markets before expanding to dozens of U.S. cities.

The investment amount was not disclosed. Uber is working with multiple drone delivery partners as it seeks to keep growing its delivery business, while continuing to add more service providers to its platform.

Uber said Zipline drones can cut Uber Eats delivery times to 5 to 10 minutes. Uber CEO Dara Khosrowshahi said the instant retail market is already visible and even larger than the traditional delivery market.

Zipline, based in San Francisco, recently completed an additional Series H funding round that raised $800 million, lifting its valuation to $7.6 billion. Zipline co-founder Keller Rinaudo Clifton said the partnership with Uber is the next step toward a new world in which getting needed items is as fast and easy as sending a text message.