Overair Announces $145M Funding Round
Summary
SANTA ANA, CA, Today, electric vertical takeoff and landing vehicle (eVTOL) company, Overair, announced its most recent funding of $145 million. Spun out of Karem Aircraft in 2020, the Santa Ana, CA based company announced the design of its vehicle, Butterfly, in 2021. Butterflys proprietary technologies, derived from the Overair teams decades of aerospace experience, create critical power reserves using todays commercially available battery cells, which translate into advances in safety and a superior experience for passengers and communities. With eVTOL adoption revolutionizing urban mobility, Butterfly is positioned to set the bar on real-world dependability, with best-in-class payload, sound emissions and weather capability. Overair has operating partnerships with companies such as Hanwha Systems and Bristow Group, and the team completed its full-scale propulsion testing in the first quarter of 2022.