ZeroAvia Raises $34 Million for Electric Jet Engine: Startup Funding Roundup
Photo Credit: Pictured: A ZeroAvia-branded Dornier 228 aircraft ZeroAvia
Skift Take
Startups developing next-generation aircraft and components have raised over half a billion dollars in venture capital so far this year.
Travel Startup Funding This Week
Each week we round up travel startups that have recently received or announced funding. Please email Travel Tech Reporter Justin Dawes at [email protected] if you have funding news.ZeroAvia is the latest to raise money in a group of startups developing next-generation aircraft and parts. The company is building hydrogen-electric jet engine to sell to aircraft manufacturers — with buy-in from American Airlines, Airbus, and Alaska Airlines
Archer Aviation raised $230 million in August as it develops an urban flying taxi. Startups in this area have raised over half a billion dollars in venture capital so far this year.
ZeroAvia was among seven travel startups that announced fundraises this week totaling nearly $90 million.
ZeroAvia: $34 millionZeroAvia, which is developing a hydrogen-electric jet engine, has raised $34 million. It’s an extension of its series C round of $116 million in 2023.
The latest funding includes $26.2 million (£20 million) from Scottish National Investment Bank and investments from American Airlines, International Airlines Group (IAG), and ITOCHU Corporation.
The fu
