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Lockheed Martin Ventures Leads Series A Funding Round For Electra.Aero

Jan 18, 2022•over 3 years ago

Round Type

series a

Falls ChurchTransportation

Description

Electra.aero, Inc. ("Electra"), a pioneering developer of hybrid-electric ultra-short takeoff and landing (eSTOL) aircraft, today announced that it has received an investment in its Series A funding round from Lockheed Martin Ventures (LMV), the venture capital arm of Lockheed Martin Corporation (NYSE:LMT). The funding will support Electra's plans to begin flight testing a full-scale hybrid eSTOL technology demonstrator aircraft later this year.

Company Information

Company

Electra.Aero

Location

Falls Church, Virginia, United States

About

Electra.aero, Inc. is a next-gen aerospace company leading the way in sustainable urban and regional mobility. The company is building clean, hybrid-electric, ultra-short takeoff and landing (eSTOL) airplanes that fly people and cargo quieter, further, and more affordably. Electra's technology delivers 2.5x the payload and 10X longer range with 70% lower operating costs than vertical takeoff alternatives, proving that climate-friendly technology can also be cost-effective. Electra's team includes some of the most respected and successful entrepreneurs and engineers in novel aircraft design, and its technology development is supported by NASA, the U.S. Air Force Agility Prime program, and a coalition of private investors.

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