Heart Aerospace raises $107 million in Series B funding

Heart Aerospace, a Swedish hybrid-electric aircraft developer, has raised a $107 million in Series B funding, bringing the total financing raised to $145 million. New investors include Air Canada, Breakthrough Energy Ventures, European Innovation Council Fund, EQT Ventures, Lowercarbon Capital, Norrsken VC, Sagitta Ventures, United Airlines, and Y Combinator, ""We couldn't be more excited about this round,"" said Heart Aerspace CEO and cofounder Anders Forslund. ""This investment furthers our mission to decarbonise and democratise air travel."" The company also announced Ted Persson, partner at EQT Ventures, will join its board of directors to bring his product design, user experience, storytelling and branding knowledge to the company. ""The stone age didn't end because we ran out of stones and the fossil fuel age won't end because we run out of fossil fuels,"" said Persson. ""Heart Aerospace is taking decarbonisation to the skies and we're proud to be funding technology that will fundamentally change the aviation industry."" Heart Aerospace intends to use the funds to help make further progress toward type certification of the company's first hybrid-electric airplane, the ES-30.