Swedish hybrid-electric airplane maker, Heart Aerospace, has raised a total of US$107 million in Series B funding, bringing total financing to US$145 million. The company says this represents a significant landmark in its goal of enabling more sustainable regional air travel with its ES-30 aircraft.
Among the new investors is Sagitta Ventures, a Danish investor focused on early-stage companies. Other investors include Air Canada, Breakthrough Energy Ventures, European Innovation Council Fund, EQT Ventures, Lowercarbon Capital, Norrsken VC, United Airlines, and Y Combinator.
Heart Aerospace intends to use the funds to further build its business and make progress toward type certification of the company’s first hybrid-electric regional airplane, designed for a seating capacity of 30 passengers.
The ES-30 is currently the only clean sheet hybrid-electric airplane of its size with an active type certification application with the European Union Aviation Safety Agency (EASA). The focus in the upcoming year will be on the development of Heart Aerospace’s hybrid- electric powertrain.
