Advanced Air Mobility News

VoltAero Secures Series B Fundraising

VoltAero Secures Series B Fundraising

French aerospace start-up VoltAero has secured the first tranche of its Series B fundraising round, which was led by Italian aerospace company Tecnologie e Servizi Innovativi (TESI). The US$32 million round of funding will go towards supporting VoltAero’s Cassio portfolio of hybrid-electric aircraft. 

TESI, which specializes in the production and integration of metallic structures, assemblies, and mechanical parts, also has experience in aviation manufacturing with clients including Leonardo, PiaggioAero, and Boeing. The company has been working towards manufacturing the five-seat Cassio 330, which is expected to make its first flight in 2023. 

The Cassio’s hybrid feature, which uses an internal combustion engine, serves as a range extender which is able to recharge the batteries while in flight and also provides a backup in case of a problem with the electric propulsion.

“TESI’s decision to become both a strategic investor and an industrial partner is a clear sign of VoltAero’s technology and business model credibility as we take this important step closer to reality for the Cassio airplane family with the Series B funding round,” said Jean Botti, Chief Executive Officer and Chief Technology Officer, VoltAero. 

VoltAero, which is designing its Cassio aircraft for various general aviation and business applications, including air taxi services, is also working on six- and ten-seat hybrid aircraft.