Tuesday, June 14, 2022

Overair Gets $145M For VTOL Aircraft

Santa Ana-based Overair, a startup working on developing all-electric vertical-take-off-and-landing aircraft (VTOL), says it has raised $145M in an investment round. According to the company, the funding came from Hanwha Systems and Hanwha Aerospace. According to Overair, it plans to fly its experimental prototype in the second half of 2023. The investment deal also includes an agreement for Hanwha to provide electric motors and battery packs for Overair's prototypes. Overair is led by co-founder and CEO Ben Tigner.

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