Odys Aviation, an aircraft startup making hybrid-electric vertical takeoff and landing (VTOL) aircraft for regional mobility, has raised a $12.4 million funding round. This funding will be instrumental in expanding the company to meet its anticipated goal of making door-to-door regional travel simpler, faster, cheaper, and greener.
The company, previously known as Craft Aerospace, is developing a hybrid-electric VTOL that could operate between cities, reducing flight time on busy travel corridors by an impressive 50%. The aircraft uses a patented VTOL architecture and a flap-based lifting technology that allows for a simple transition to lofted flight and a more efficient cruise, which the company will demonstrate via a one-passenger prototype aircraft this year.
The manufacturer claims that its hybrid-electric VTOL aircraft will have a maximum speed of 345 mph (555 km/h), a range of 1,000 miles (1,609 km), and a cruise altitude of 30,000 ft (9,144 meters). The commercial version of the aircraft will theoretically carry nine passengers and two pilots. According to Odys Aviation, the aircraft’s speed, range, and size are uniquely suited for high volume operators. In fact, the aircraft is designed with input from major airlines to make sure we are a good fit for their operations.
There is still a long way to go, with the VTOL expected to become certified by 2026.
“This truly unique aircraft is on track to reimagine travel as we know it,” said Tommy Stadlen, Co-Founder and General Partner, Giant Ventures. “Led by a world-class team of industry pioneers, Odys Aviation is creating systemic change in the way we travel. This will eliminate the frustration and long hours spent in traffic and at airports, as well as the detrimental impact that planes and cars have on the planet. This is exactly the type of ambitious, purpose-driven innovation Giant was set up to fuel.”