JetZero, the U.S.-based start-up airplane maker designing the world’s first commercial all-wing airplane, announces it has raised approximately $175 million in its Series B financing, led by B Capital, a global multi-stage investment firm. United Airlines Ventures, Northrop Grumman, 3M Ventures and RTX Ventures, the corporate venture capital arm of RTX, among others, also participated in the round. To date, JetZero has raised and secured commitments of more than $1.0 billion, including government grants, incentives and commercial commitments.
The new capital will accelerate the development of JetZero’s full-size Demonstrator, a prototype designed to achieve at least 30% improved aerodynamics compared to traditional tube and wing aircraft. The Demonstrator is on track for its first flight in 2027.
“The strength and diversity of our investor base reflects the momentum behind JetZero and the industry’s readiness to reshape the future of aviation,” said Tom O’Leary, JetZero co-founder and CEO. “This round brings together key strategic partners across the value chain from demand to supply to implementation, including United Airlines Ventures and RTX Ventures, as well as longtime supporters of JetZero from our Series A financing and a new, lead investor in B Capital, focused on innovative, resilient technology. Together, we are delivering an efficient aircraft that elevates the passenger experience, drives American leadership in advanced manufacturing and exports, and strengthens the aviation supply chain.”
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“JetZero is redefining aviation with its all-wing aircraft, setting a new benchmark for efficiency, cost, and the passenger experience,” said Jeff Johnson, General Partner at B Capital. “As aviation faces rising emissions and fuel costs, the need for a step change in efficiency has never been greater. JetZero is positioned to reshape the industry, and we’re proud to partner with the team as they advance this groundbreaking technology.”
SOURCE: PRNewswire