Kristen Smith
Electra can begin the pre-production and certification phase of its EL9 Ultra Short aircraft using the $115 million it raised in a Series B funding round led by Prysm Capital to fulfill more than 2,200 EL9 pre-orders valued at over $10 billion.
The nine-passenger EL9 features hybrid-electric propulsion and capabilities for commercial and defense purposes, Electra said Monday.
Offering a helicopter’s landing and takeoff versatility, low-noise operation, and the cost advantage and safety of a fixed-wing, fixed-propeller aircraft, the EL9 will allow commercial operators to serve communities lacking traditional aviation infrastructure, fly into airports with strict noise restrictions and create new opportunities and business models for cargo services, the company added.
Electra also highlighted how the aircraft can benefit defense operators, noting the aircraft’s ability to perform low-signature takeoff and landing, operate from compact spaces and unimproved surfaces, and carry up to 3,000 lb of payload, enabling novel logistics and troop transport capabilities.
The company is developing EL9 for military use cases under a strategic funding increase contract with the U.S. Air Force.
“At Electra, we are on a mission to deliver a new era of aviation, a leap forward in advanced air mobility that is both transformational and practical,” said Marc Allen, CEO of Electra.
Lockheed Martin Ventures, Honeywell and Safran participated in the Series B funding round for Electra.
