Jetson, the aviation company and manufacturer of the commercially-available Jetson ONE eVTOL, announced on September 9th that it’s set to close a $10M seed round with +$8M secured. The remainder is to be closed within the month.
Jetson is currently the only eVTOL company on the market that can provide a commercially available personal electric aviation vehicle.
Peter Ternström, Jetson co-founder and President, commented as the company approaches closure of the funding round: “our mission at Jetson is to democratize flight and make the skies available to everyone. We achieved fantastic results during our first investment round. We will now go full speed ahead with mass production, R&D and hiring top talent to bring our vision to reality.”
The lead investors in the $10M seed round are global tech operators. Luca Spada, Nik Robinson and Rikard Steiber. They all share a passion for flight and are pioneers in their respective fields.
Luca Spada, Founder and CEO of EOLO will be joining the Board of Directors together with the founders. EOLO is an Italian operator that manages one of the largest Fixed Wireless Access Networks in the World.
Jetson investor Nik Robinson, a tech entrepreneur with an impeccable track record, and one of the most influential innovators in the internet gaming industry. Nik’s investment company Splendid Stuff covers a wide range of technology from music NFT pressing to AI analytics, electric transportation, and online gaming.
Jetson has sold over 400 units, with thousands of purchase requests during the same period.
Jetson will continue to invest in R&D, recruitment and mass production and will be opening operations in the US in 2023. Jetson’s first external investor Swedish Silicon Valley Entrepreneur Rikard Steiber will drive the US expansion plans.
The Jetson ONE is built to comply with existing FAA regulations. Making the Jetson ONE the perfect eVTOL for the US market.
Jetson will be inviting clients with an assigned chassis number to test fly the Jetson ONE in the Spring of 2023.
The first 200 chassis are due for delivery between October and December 2023. Jetson is currently on target for 2023 delivery and working on the next steps towards mass production.
Why it’s important: Jetson’s impending closure of their first funding round will help the company maintain momentum toward initial customer test flights and orders of the Jetson ONE personal aerial vehicle. The company will need to scale the aircraft substantially in order to attain a viable commercial product that can move multiple persons across cities, but this initial revision will serve as an opportunity to be a proving vehicle for future iterations that will fly farther, carry higher loads, and have more complex systems.