Venture Catalysts and 1Crowd led undisclosed Pre-series A funding raised by Nautical Wings Aerospace
Venture Catalysts and 1Crowd have contributed an undisclosed sum to the pre-Series A round of funding for Nautical Wings Aerospace, an electric propulsion technology for the aviation industry.
In order to fulfill the rising demand for electric propulsion solutions in aviation across the globe, the proceeds will be utilized to increase R&D efforts, grow the team of knowledgeable engineers, and assist in scaling up operations.
Nautical Wings Aerospace was founded in 2020 by Shiv Varun Singh Rajput, Praveen T, and Vikas Kamath. The company provides OEMs with specialized propulsion solutions globally. The Integrated Electric Propulsion Unit (iEPU), the company’s upcoming flagship product, is a turnkey solution made to make adoption easier for air mobility and drone manufacturers. The business offers aircraft OEMs enterprise hardware technology through a business-to-business model.
Nautical Wings Aerospace has a big chance as the market for electric aircraft propulsion is expected to grow at a CAGR of 15.3% from $6.5 billion in 2022 to $20.3 billion by 2030, according to market research.
Nautical Wings Aerospace is developing an iEPU with a plug-and-play design that makes it simple to integrate across different aircraft types and meets the unique requirements of each customer. This adaptable system streamlines development and accelerates time-to-market for drone manufacturers and air mobility companies.
