Ascendance Flight Technologies announced recently that it closed a $11.724 million funding round to boost development of Atea, its vertical take-off and landing aircraft (VTOL), which is powered by Sterna, its hybrid technology stack.
“This successful round of funding will allow us to focus on full-scale prototypes and patents in order to accelerate the development and industrialization of our technologies and products,” Jean-Christophe Lambert, co-founder and CEO of Ascendance Flight Technologies, said in a statement.
Ascendance, a French company says its investors include:
- Habert Dassault Finance
- Celeste Management
- M Capital
- Kima Ventures
Ascendance touts Atea as a “clean, quiet and efficient advanced air mobility solution.” The company says the five-seat plane has a range of nearly 250 miles and a 10-minute turnaround time. It says Atea can be used for general transportation, emergency medical services, or surveillance and Patrol.
Back in June, Ascendance announced a multiyear partnership with Capgemini Engineering to help develop prototypes. The first public demonstration flight is scheduled for 2024 at the Paris Olympics.
This successful funding round follows the announcement of the high-profile board, which includes:
- Former Safran Chairman Jean-Paul Herteman
- Former executive committee member at Renault, Jean-Christophe Kugler
- Former head of the Airbus E-Aircraft Program, Agnès Plagneux-Bertrand