eVTOL Leader AIR Accelerates with $23M Funding for Cargo and Personal Flight Vehicles

The dream of electric air taxis and autonomous cargo drones moved decisively toward reality this week as Israeli-American aerospace innovator AIR announced a $23 million Series A funding round. Led by Entrée Capital with continued backing from Dr. Shmuel Harlap, this injection fuels AIR’s mission to scale production and U.S. operations for its cutting-edge eVTOL (electric vertical takeoff and landing) aircraft. The timing aligns with a U.S. government push, including a recent White House Executive Order, to dominate the advanced air mobility (AAM) sector.

Strategic Investment for U.S. Expansion and Scalability

The $23 million funding accelerates AIR’s U.S. market penetration, production capabilities, and ongoing deliveries of its uncrewed cargo aircraft. Entrée Capital’s Avi Eyal highlighted AIR’s transition “from initial founding to full flight operations across logistics, consumer, and defense applications,” calling its unified eVTOL design “an engineering marvel.” This vote of confidence comes as U.S. regulators actively enable AAM growth. A pivotal FAA rule under the Modernization of Special Airworthiness Certification (MOSAIC), finalized in 2023, expands the Light Sport Aircraft category to include models like AIR’s piloted AIR ONE—streamlining certification pathways.

“This funding solidifies AIR’s path forward and enables us to fulfill our promise to customers,” emphasized CEO Rani Plaut. With a newly established U.S. operations center, AIR collaborates with the U.S. Air Force’s Agility Prime program while pursuing FAA certification—a dual-track strategy positioning it at the forefront of military and commercial AAM adoption.

Delivering Real Aircraft in a Field of Concepts

Unlike many AAM players still in prototyping, AIR generates revenue by delivering functional aircraft. In 2023, it fulfilled its first orders for autonomous cargo eVTOLs. The company’s two flagship models share core technology:

• Uncrewed Cargo eVTOL: 550 lb payload capacity, 100-mile range, 120-knot speed, and 70 cu ft cargo space. Designed for logistics, disaster response, and remote operations, its ground handling system integrates with existing supply chains.
• AIR ONE Personal eVTOL: A two-seater with folding wings, parking in standard car spaces. Targeting private owners, it emphasizes performance and accessibility.

Both aircraft leverage automotive-derived manufacturing for cost efficiency and scalability. With 15 cargo units slated for delivery within a year and 2,500 pre-orders for the AIR ONE, AIR is translating prototypes into operational reality.

Must Know

What is AIR’s cargo eVTOL designed for?
AIR’s autonomous cargo aircraft targets time-sensitive logistics, medical supply delivery to remote areas, and disaster relief. Its 550-pound payload capacity and 100-mile range enable rapid transport without ground infrastructure. The system integrates with existing warehouses and trucks, minimizing operational friction.

How does the FAA’s MOSAIC rule help AIR?
The 2023 MOSAIC rule expands Light Sport Aircraft eligibility to include eVTOLs like the AIR ONE. This simplifies certification, allowing faster market entry for personal flight vehicles while maintaining rigorous safety standards. It reflects the FAA’s commitment to enabling AAM innovation.

Who invested in AIR’s Series A round?
Entrée Capital led the $23 million investment, with participation from longtime backer Dr. Shmuel Harlap. Entrée cited AIR’s proven flight operations and multi-application platform as key reasons for backing the company amid growing AAM competition.

When will AIR’s aircraft be widely available?
AIR aims to deliver 15 cargo eVTOLs within the next year. The AIR ONE personal vehicle, with over 2,500 pre-orders, is progressing toward FAA certification, though public availability timelines depend on regulatory approval. Defense applications via Agility Prime may deploy sooner.

Boldly bridging the gap between ambition and execution, AIR’s $23M boost signals eVTOLs’ transition from prototype to production. As cargo drones take flight and personal air vehicles near certification, the skies are poised for a revolution. For the latest on electric aviation’s trajectory, follow AIR’s journey at airev.aero.