Ampaire Secures $19M in Series B Funding to Accelerate Hybrid-Electric Aircraft Development
Californian startup Ampaire has raised $19 million in Series B funding to accelerate the commercial readiness of its hybrid-electric propulsion system.
A Californian startup has secured significant funding to further develop its hybrid-electric aircraft technology.
Ampaire, a company that is working on hybrid-electric aircraft, has raised $19 million in Series B funding. This fresh capital round brings the total amount of funding raised by Ampaire to $68 million.
The funding has been led by DiamondStream Partners, with other investors including the venture capital arms of prominent airline groups International Air Group (IAG) and Alaska Airlines, as well as several other venture capital firms.
The funds will be used to accelerate the commercial readiness of Ampaire's hybrid-electric AMP-H570 propulsion system. This system is being retrofitted into Cessna Grand Caravan aircraft to reduce fuel consumption by half. The resulting hybrid aircraft is referred to as the "Eco Caravan".
Ampaire is also one of the startups selected to participate in the eVTOL Integration Pilot Program (eIPP), backed by the US government and the Federal Aviation Administration (FAA), to advance the development of new air mobility technologies.
In addition to its work on hybrid-electric propulsion systems for aircraft, Ampaire is also exploring the use of its technology to power Auxiliary Power Units (APU) used by aircraft while on the ground.
## Hybrid-Electric Aircraft Development
Ampaire's hybrid-electric propulsion system is being developed to reduce fuel consumption by half. The system is being retrofitted into Cessna Grand Caravan aircraft to create the "Eco Caravan".
| **Investors** | **Role** | | --- | --- | | DiamondStream Partners | Lead Investor | | International Air Group (IAG) | Venture Capital Arm | | Alaska Airlines | Venture Capital Arm | | Forward Ventures | Venture Capital Firm | | Techstars Ventures | Venture Capital Firm | | Autodesk Foundation Impact Fund | Venture Capital Firm | | Los Angeles Cleantech Incubator Impact Fund | Venture Capital Firm |
## eVTOL Integration Pilot Program
Ampaire is one of the startups selected to participate in the eVTOL Integration Pilot Program (eIPP). This program is backed by the US government and the Federal Aviation Administration (FAA) to advance the development of new air mobility technologies.
## Future Applications
Ampaire is also exploring the use of its hybrid-electric technology to power Auxiliary Power Units (APU) used by aircraft while on the ground. This could potentially reduce fuel consumption and emissions in a wider range of applications.
The funding secured by Ampaire will help to accelerate the development of its hybrid-electric aircraft technology. With the support of prominent investors and the backing of the US government, Ampaire is well-positioned to make a significant impact in the aviation industry.
