Natilus has raised $28 million in Series A financing to advance the development and commercialisation of blended-wing aircraft technology.
The financing was led by Draper Associated and includes strategic investors with focuses on aerospace, defence and global freight logistics: Type One Ventures, The Veterans Fund, and Flexport.
Also participating are new investors New Vista Capital, Soma Capital, Liquid 2 VC, VU Venture Partners, and Wave FX.
The funding round will allow the blended-wing developer to complete manufacturing of its first full-scale prototype of regional cargo plane KONA, which is expected to fly in the next two years.
Natilus said it will also further invest in the development of its second aircraft, HORIZON EVO. The 200-plus passenger aircraft is intended to compete with the Boeing 737 MAX and Airbus A320neo.
The company debuted its transition from a single-deck to a dual-deck aircraft. These changes aim to enhance passenger experience and safety, according to the company.
Currently, Natilus has over 570 aircraft orders from companies such as SpiceJet, Nolinor Aviation, and Ameriflight. The orderbook is valued at over $24bn.
The company is pursuing certification under Federal Aviation Administration (FAA) Part 23, Amendment 64, and plans to establish a 250,000-square-foot manufacturing facility capable of producing 60 aircraft annually.