Electra.aero, Inc., a Manassas, VA-based advanced aerospace company, secured $115m in Series B funding.
The round was led by Prysm Capital, and Jay Park, Co-Founder and Managing Partner at Prysm, has joined Electra’s Board of Directors. Lockheed Martin Ventures, Honeywell, and Safran are among strategic investors along with Statkraft Ventures, the Virginia Innovation Partnership Corporation (VIPC), and other private investors.
The company intends to use the funds to enter the pre-production and certification phase of the EL9, its Ultra Short aircraft, which can take off and land in 150 feet.
Led by Marc Allen, CEO, Electra is an advanced aerospace company building hybrid-electric Ultra Short aircraft that flies people and cargo without airports, emissions, or noise. By integrating blown lift technology with hybrid-electric propulsion, Electra’s 9-passenger EL9 Ultra Short operates with the landing and takeoff versatility of a helicopter, the quiet of an electric vehicle, and the cost advantage and safety of a fixed-wing, fixed-propeller aircraft.
The EL9 delivers up to 3,000 pounds of payload and a range of up to 1,100 nautical miles, with in-flight battery recharging that eliminates the need for ground charging stations.
With the EL9, commercial operators can connect communities that lack aviation infrastructure, fly into airports with strict noise restrictions, create new opportunities and business models for cargo services, and save travelers significant time.
For defense operators, the EL9 introduces novel logistics and troop transport capabilities, including the ability to take off and land with a low signature in helicopter-sized spaces in remote, austere areas and providing mobile power capabilities while building on the safety, cost, and range advantages of a fixed-wing aircraft.
Its contracted customers include NASA, the U.S. Air Force, the U.S. Army, and the U.S. Navy, along with over 2,200 aircraft under Letters of Intent from 50+ commercial customers, including both airlines and helicopter operators.
Electra has grown to roughly 80 employees.
FinSMEs
21/04/2025