With new backers, a Dallas-based aerospace company is looking to take flight—vertically and electronically.
Jaunt Air Mobility, a maker of electric vertical takeoff and landing (eVTOL) aircraft, announced landing funding from notable investors Calin Rovinescu and Mitch Garber for an undisclosed amount.
“(Rovinescu’s) vision and global understanding of aerospace, aviation, and capital markets should help to accelerate our evolution as a leading eVTOL company,” Jaunt CEO Martin Peryea said in a statement.
Rovinescu previously served as the president and CEO of Air Canada for more than a decade. While there, Rovinescu also served as the chairman of the Star Alliance Chief Executive Board, the controlling organization for the global airline alliance that includes United Airlines and Lufthansa as members.
Garber is a minority owner and executive committee member of the NHL team the Seattle Kraken. According to his LinkedIn page, Garber is also an investor and board member for San Antonio’s Rackspace and California-based Shutterfly.
“eVTOL air taxis is an obvious next-gen hyper-growth area,” Garber said in a statement. “It is an opportunity to build a transportation system that changes how we move and facilitate a greener efficient global economy.”
Jaunt formed in 2019
The investment comes as Jaunt is looking to develop and commercialize VTOL vehicles. One is currently being vetted by the U.S. Air Force’s AFWERX program for potential defense uses. The other craft, called the Jaunt Journey, would operate in urban environments, offering air taxi and cargo delivery services. According to the company, it’s one of the first to combine helicopter and fixed-wing capabilities in its vehicles.
Jaunt was formed in 2019 after acquiring the intellectual property for the technology from Wichita Falls, Texas-based Carter Aviation. Jaunt has its headquarters in Dallas and has design and manufacturing operations in Montreal.
Jaunt joins AIRO Group Holdings
The new investment also comes on the heels of Jaunt’s acquisition by AIRO Group Holdings last month for an undisclosed amount that saw Jaunt become a wholly owned subsidiary of the firm. AIRO says it is made up of seven companies, creating an air mobility, autonomy, and aerospace platform. Other AIRO companies include Coastal Defense Incorporated and Aspen Avionics.
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