Horizon Aircraft Secures Investment from Canso Investment Counsel Ltd.
Summary
Horizon Aircraft secured a $6.7 million CAD strategic investment through a convertible note from Canso Investment Counsel Ltd. and affiliated companies. The company said the funding will strengthen its position in the eVTOL market and help speed up development of its Cavorite X7 aircraft. Horizon also reiterated its planned business combination with Pono Capital Three, which would list the combined company on Nasdaq under HOVR. The release describes Horizon as an aerospace engineering company developing a hybrid electric eVTOL aircraft that aims to combine aircraft-like flight characteristics with speed, range, and utility.
Funding
Amount
None
Total raised
Date
December 5, 2023
Announcement date
Investors
-
Lead investors
Company
horizonaircraft.com
Funded company
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