Electra.aero announces funding round for its hybrid eSTOL aircraft

FALLS CHURCH, Va., - Electra.aero, Inc., a developer of hybrid-electric ultra-short takeoff and landing (eSTOL) aircraft, announced that it has received an investment in its Series A funding round from Lockheed Martin Ventures (LMV), the venture capital arm of Lockheed Martin Corporation . The funding will support Electra's plans to begin flight testing a full-scale hybrid eSTOL technology demonstrator aircraft later this year.

Electra's hybrid-electric, ultra-short takeoff and landing (eSTOL) aircraft can operate from spaces as small as 300x100 feet using its distributed electric propulsion and blown lift technology. A small turbine-powered generator also recharges the batteries mid-flight, eliminating the need for new ground charging infrastructure. The  aircraft is currently being designed to transport up to 1,800 pounds of cargo or move 7 to 9 passengers up to 500 miles.