Heart Aerospace fundingImage Credit: Heart Aerospace

Heart Aerospace, a hybrid electric airplane manufacturer, has raised $107 million in Series B funding, which brings the total financing raised since inception to $145 million.

Among the new investors in Sagitta Ventures, a Danish investor focused on early-stage companies. Other investors include Air Canada, Breakthrough Energy Ventures, the European Innovation Council Fund, EQT Ventures, Lowercarbon Capital, Norrsken VC, United Airlines, and Y Combinator.

Heart Aerospace developed the ES-30, which is a regional electric airplane with a standard seating capacity of 30 passengers powered by electric motors with battery-derived energy. It has a fully electric zero-emission range of 200 kilometers, an extended range of 400 kilometers, and the flexibility to fly up to 800 kilometers in hybrid mode with typical airline reserves.

The new investment will be used by the company to further build its business and make progress toward type certification of the company’s first hybrid-electric airplane, the ES-30. The ES-30 is currently the only clean sheet hybrid-electric aircraft of its size with an active type certification application with the European Union Aviation Safety Agency (EASA). The company will also focus on the development of a hybrid electric powertrain in the upcoming years.

The company’s co-founders are Anders Forslund (CEO) and Klara Forslund (CBO), and it is headquartered in Gothenburg, Sweden.

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