US-European aerospace startup Cosmic Aerospace has raised $4.5 million ($4.84 million) in seed funding to ‘accelerate the development’ of its 1,000 km-range ‘Skylark’ electric aircraft.
The seed round was led by climate tech-focused venture capital firm Pale blue dot with participation from deep tech and climate tech investors including Aera VC, Visionaries Club TOMORROW, Fifty Years, Possible Ventures, Syndicate One, Course Corrected, Understorey Capital and Samurai Incubate.
‘Instead of relying on future battery improvements, Cosmic is focusing its engineering efforts on the development of a highly efficient airframe and propulsion system, unlocking flight ranges that elevate electric aircraft from a niche product into the mainstream aviation market,’ notes the company, which has already built and tested a full-scale operational electric engine.
The new funds will boost the development of Cosmic’s unique embedded wing design, with a full-scale demonstrator on track for its first flight in 2026. The company are targeting an entry into service towards the end of the decade.
Cosmic Aerospace secures EUR 4.5 million in seed funding for regional electric aircraft
