Electra Raises $115 Million to Pioneer the World's First Ultra Short Aircraft
Summary
With the EL9, commercial operators can connect communities that lack traditional aviation infrastructure, fly into airports with strict noise restrictions, create new opportunities and business models for cargo services, and save travelers significant time. "The EL9 Ultra Short opens the door to opportunities to establish new commercial routes, connect communities currently lacking aviation infrastructure, and enable entirely novel logistics capabilities for warfighters. The ability to operate from compact spaces and unimproved surfaces such as grass fields, parking lots, and repurposed heliports opens new routes and economic opportunities, making regional air mobility for passengers and cargo more affordable and accessible than ever before. Electras Ultra Short technology delivers 2.5X the payload and 10X longer range with 70% lower operating costs than helicopters and eVTOLs with significantly greater safety and far less certification risk. With offices in New York, Princeton and San Francisco, Prysm acts as a flexible source of growth capital for companies in the technology and consumer sectors.