Aerovel Raises $2.5 Million to Support Continued Development of its Flexrotor UASPress Release
March 17, 2021
White Salmon, WA – March 16, 2021 – Aerovel, manufacturer of Flexrotor, the most advanced Group 2 vertical take-off and landing (VTOL) unmanned aircraft, today announced that it has raised $2.5 million in Series B capital. The investment is from undisclosed leaders in aviation. Aerovel is using the funds to accelerate growth, increase production capacity and hire additional engineers.
“These funds come at an important time in Aerovel’s growth,” said Ali Dian, CEO of Aerovel. “We are seeing excellent interest in Flexrotor from government and private users, and this investment round will enable us to quickly scale. We plan to raise additional funds later this year and more than double in size.”
Flexrotor is designed to operate with economics that are practical for commercial service while being effective for military applications. It can be used day or night for a diverse range of intelligence, surveillance, and reconnaissance on land and at sea. The aircraft offers an unprecedented combination of small size, large payload/range, economy, autonomy and basing flexibility.
Aerovel is led by the unmanned aircraft veterans who created the Group 2 class of small unmanned aircraft, a backbone of US military and allied intelligence, surveillance, target acquisition and reconnaissance (ISTAR) missions worldwide. Aerovel’s Flexrotor is the most advanced Group-2 aircraft with vertical take-off and landing (VTOL). More information can be found at www.aerovel.com