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Overair Receives $145 Million Investment From Hanwha Group To Develop All-Electric Vtol Aircraft

Jun 14, 2022•over 3 years ago

Amount Raised

$145 Million

Santa Ana

Description

Today, electric vertical takeoff and landing vehicle (eVTOL) company, Overair, announced its most recent funding of $145 million from Hanwha Systems and Hanwha Aerospace, global leaders in ultra-precision communications and aircraft technologies. With this new investment, Overair remains on track to fly its all-electric experimental prototype in the second half of 2023.

Company Information

Company

Overair

Location

Santa Ana, California, United States

About

Overair is positioned to be a global leader in advanced air mobility. Spun out of Karem Aircraft in 2020, the Santa Ana, CA based company announced the design of its vehicle, Butterfly, in 2021. Butterfly is a breakthrough electric vertical takeoff and landing (eVTOL) aircraft. Butterfly's proprietary technologies, derived from the Overair team's decades of aerospace experience, create critical power reserves using today's commercially available battery cells, which translate into advances in safety and a superior experience for passengers and communities. With eVTOL adoption revolutionizing urban mobility, Butterfly is positioned to set the bar on real-world dependability, with best-in-class payload, sound emissions and weather capability. Overair has operating partnerships with companies such as Hanwha Systems and Bristow Group, and the team completed its full-scale propulsion testing in the first quarter of 2022. For more information, visit: https://www.overair.com / Twitter: @overair_inc

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