Odys Aviation (formally Craft Aerospace), an aircraft startup making hybrid-electric vertical takeoff and landing (VTOL) aircraft for regional mobility, has secured USD12.4 million in a seed funding round.
The round included strategic investment from Giant Ventures, Soma Capital, 11.2 Capital, Countdown Capital, Uber Elevate co-founder Nikhil Goel and Cruise Automation founder Kyle Vogt.
Odys Aviation, a Y Combinator (YC) S21 company with USD13.7 million in total funding, uses a patented VTOL architecture and a flap based lifting technology that allows for a simple transition to lofted flight and more efficient cruise, which the company will demonstrate via a one passenger prototype aircraft this year.
The seed funding round will help expand the company’s physical footprint with a new state-of-the-art facility, as well as expand their executive leadership and engineering teams. Co-founder Axel Radermacher will take on a new role as Head of Product to assure the company’s VTOL product exceeds the needs of the customer and the market.
Current investors in Odys Aviation include Y Combinator, Brogan BamBrogan and Pedram Keyani.