Electra, an aerospace company headquartered in Virginia, announced a $115 million Series B funding round led by Prysm Capital. The company is developing an electric passenger aircraft that requires only about 10 percent of the takeoff and landing footprint as similarly-sized planes.
The company’s EL9 Ultra Short aircraft combines blown lift technology and hybrid-electric propulsion to operate with takeoff and landing versatility comparable to a helicopter. It’s also quieter and offers notable cost savings and safety qualities. Additionally, the aircraft can transport up to 3,000 pounds of payload over a range of 1,100 nautical miles, according to a news release.
Electra will use the money to enter the pre-production and certification phase for its EL9 aircraft. Serving the commercial and defense sectors, the 80-person company already has more than 2,200 pre-orders for its product.
