FlyORO, a Singapore-based Sustainable Aviation Fuel (SAF) startup, raised USD 1.6M in Pre-Series A funding.
The round was led by Audacy Ventures, with participation from Asia-Pacific based VC Investible and other private investors.
The company intends to use the funds to accelerate ongoing projects and international expansion efforts. The initial focus will be on strategic initiatives in both the Australian and United States markets.
Led by CEO Jonathan Yeo, FlyORO provides a modular, on-demand blending service of SAF and jet fuel to enable aviation on its emissions reduction journey. As an enabler to the SAF supply chain, The company’s tech enables flyers to align their ESG targets per flight rather than be succumbed to fixed blend ratios and bulk commitments upfront. With a small form factor of 40ft, it is space efficient and portable and can be installed anywhere at or off airport base. This solution allows airport fuel operators to serve flyers more effectively with a simplified supply chain.
FinSMEs
18/01/2024