Cosmic Aerospace “Raises USD4.5 million” for Electric Aircraft Development

A joint U.S and Euro­pean aero­space start­up, has raised USD4.5 mil­lion in seed financ­ing for the devel­op­ment of an elec­tric air­craft, reports a press release. The com­pa­ny, Cos­mic Aero­space, says it will be the world’s first elec­tric exam­ple, capa­ble of fly­ing more than 600 miles. 

The release states, “Instead of rely­ing on future bat­tery improve­ments, Cos­mic is focus­ing its engi­neer­ing efforts on the devel­op­ment of an air­frame and propul­sion sys­tem.”

The new funds will help devel­op the company’s embed­ded wing design, a key enabler for achiev­ing the ener­gy effi­cien­cy Cos­mic is tar­get­ing for its zero-emis­sion air­craft that can car­ry 24 pas­sen­gers. 

The full-scale flight demon­stra­tor is on track for its first flight in 2026, with entry into ser­vice tar­get­ed at the end of the decade. The com­pa­ny has already built and test­ed a full-scale oper­a­tional elec­tric engine.

Christo­pher Chahine, co-Founder and CEO of Cos­mic, com­ment­ed, “The tech­nol­o­gy exists to build long-range elec­tric air­craft, but needs to be devel­oped into a com­mer­cial prod­uct that is cer­ti­fi­able in cur­rent and future reg­u­la­to­ry frame­works.”

Christo­pher Chahine

The seed round was led by cli­mate tech-focused ven­ture cap­i­tal firm, Pale Blue Dot, with par­tic­i­pa­tion from fel­low cli­mate tech investors includ­ing Aera VC, Vision­ar­ies Club Tomor­row, Fifty Years, Pos­si­ble Ven­tures, Syn­di­cate One, Course Cor­rect­ed, Under­storey Cap­i­tal and Samu­rai Incu­bate.

Joel Lars­son, gen­er­al part­ner at Swe­den-based Pale Blue Dot, remarked, “We are impressed by the prag­mat­ic devel­op­ment approach the team at Cos­mic has demon­strat­ed and are con­vinced that this is the right way for­ward to enable the true decar­bon­i­sa­tion of avi­a­tion. We believe the Cos­mic team has what it takes to lead the avi­a­tion indus­try into a sus­tain­able future.”

For more infor­ma­tion

https://www.cosmicaerospace.com/

https://paleblue.vc

(Top image: Cos­mic Aero­space)

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