“…Backed by $145 million in new funding from Hanwha Group, California startup Overair said it plans to begin flight testing its experimental eVTOL prototype in the second half of 2023.
Along with the new funding, the companies also announced on June 14 that Hanwha’s aerospace division will provide electric motors and battery packs for Overair’s prototypes as the companies expand their research and development work. The South Korean investor had previously injected $25 million into the company in 2019.
Ben Tigner, co-founder and CEO of Overair, calls the funding a “tremendous milestone” that will position the company to bring its Butterfly eVTOL to market for aerial ridesharing services.
Earlier this year, Overair started ground testing on its full-scale propulsion system in the southern California desert.
“We’ve proven Butterfly’s propulsion system, so we’ll now begin validating Butterfly’s ability to operate safely in real-world weather conditions, carry significant payloads, and fly incredibly quietly,” Tigner said about the company’s flight test program…”