Xwing, a San Francisco, CA-based automation company for aviation, raised $40m in funding at a $400m valuation.
The round, which brought total capital raised to $55m, was led by Blackhorn Ventures, with participation from ACME Capital, Loup Ventures, R7 Partners, Eniac Ventures, Alven Capital and Array Ventures.
The company intends to use the funds to scale its innovation and team.
Led by Marc Piette, CEO and founder, Xwing has developed autonomous technology for regional air cargo. Its human-operated software stack integrates with existing aircraft to enable regional pilotless flight.
The company recently completed a fully autonomous gate-to-gate demonstration of a commercial cargo aircraft that saw a Cessna Grand Caravan 208B leave the gate, taxi, take-off, land and return to the gate entirely on its own. The flight took place in February 2021 and was remotely monitored from the company’s mission control center in Concord, California. All air traffic control interactions were done from the ground.
FinSMEs
15/04/2021