Bye Aerospace says it completed a $5 million strategic investment by a venture capital group earlier this year. That investment was followed by the completion of a $5 million venture raise. Bye Aerospace is the developer of the all-electric eFlyer family of FAA Part 23-certified aircraft.
Bye Aerospace Receives $10 Million in New Funding
Key Takeaways:
- Bye Aerospace successfully secured $10 million through a strategic investment and a venture raise, despite the challenges posed by coronavirus restrictions.
- These funds are being used to commence work on "Serial #001," the first production-conforming prototype of their all-electric, two-seat eFlyer 2 aircraft.
- The company has completed critical design review for the eFlyer 2 and is currently conducting multiple test flights of its technology demonstrator.
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