Startup Building Unmanned Cargo Planes Raises $60 Million
The startup plans to operate its own cargo service and says pilotless aircraft could lower costs and improve payload efficiency.
8 Articles
8 Articles
A new unmanned cargo plane is preparing for its first experimental flight before the end of the year, in a step that might be enhanced
Startup building unmanned cargo planes raises $60 million
Poseidon Aerospace, a startup building unmanned cargo aircraft, has raised $60 million in a Series A funding round for defense and commercial logistics work, the company announced. TQ Ventures led the round, with participation from JAWS, G Squared, Hanwha Asset Management USA, Starship Ventures, Drover Ventures, Draper Associates and other investors. The company said the […]
Poseidon Aerospace Raises $60M Ahead of Pilotless Test Flight
Poseidon Aerospace has raised $60 million to fund its first uncrewed test flight. The startup wants to rethink cargo aircraft economics entirely. Specifically, it plans to remove pilots from the equation completely. This Series A round arrives ahead of that landmark flight. TQ Ventures led the funding round for the company, and new investors included […]
Poseidon Aerospace obtained $60 million to advance towards the first test flight of Egret, an autonomous cargo aircraft powered by combustion engines. The startup seeks to reduce logistics costs without resorting to vertical takeoff, hydrogen or electric propulsion, while targeting regional defense and transport markets.
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