Mobility

Toulouse-based Beyond Aero raises $44M to electrify aviation

Their technology facilitated France's first manned fully hydrogen-electric flight earlier this year.
Lucy Adams 28 October 2024
Toulouse-based Beyond Aero raises $44M to electrify aviation
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Beyond Aero, a mobility startup developing the first hydrogen-powered electric business aircraft, announced a successful Series A funding round, securing an additional $20M. Co-led by Giant Ventures and Bpifrance (the French Sovereign Fund) via its Deeptech 2030 fund), this round brings the company’s total capital raised to $44 million, inclusive of debt and grants. Other investors in this round include Initialized Capital, known for backing 27 unicorns, Airbnb and Dropbox founders Nate Blecharczyk and Arash Ferdowsi and several high-profile athletes.
 

Giant Ventures, the leading purpose-driven fund, co-led the Series A round alongside Bpifrance through the “Deeptech 2030” fund, which is managed on behalf of France 2030.

Beyond Aero plans to electrify aviation, starting with business aviation. Business aviation is the most emissions-intensive segment per passenger, producing ten times more CO2 per person than commercial flights, and under growing scrutiny. It has begun deploying $12M to build the world’s most powerful integrated Hydrogen Electric Powertrain Lab. Beyond Aero’s aircraft, One is designed to carry 6 to 8 passengers for 800 nautical miles and is expected to enter the market by 2030. 
The company has hit significant technical milestones in recent months, achieving France's first manned fully drogen-electric flight earlier this year and has secured $914 million in Letters of Intent (LOIs) for 108 aircraft. The company also won the Sustainable Aviation Challenge by the World Economic Forum, joining the First Movers Coalition.

“Eloa Guillotin is the most visionary leader in aerospace today. Her bold ambition to reshape aviation with electric, hydrogen-powered aircraft aligns perfectly with our mission to back purpose-driven founders solving the world’s biggest challenges.” commented Jon Dishotsky, Partner at Giant Ventures

"We have formed a powerful alliance of investors from Europe and the U.S. Giant Ventures offers invaluable guidance, a client network, and a global perspective. Initialized Capital, having supported us since the Seed round, brings founder experience in scaling industry leaders. Bpifrance represents the solid national commitment of the France 2030 plan to clean energy innovation. With prominent public figures who share our vision, we are making aviation electric and achieving our global ambitions.” added Eloa Guillotin, Co-Founder and CEO of Beyond Aero.

Initialized Capital, the fund behind 27 unicorns, including Coinbase, Cruise, and Instacart, reaffirmed its support. Beyond Aero has also attracted investment from high-profile public figures, including Olympic champion Nikola Karabatić and World Cup winner Raphael Varane through the venture capital fund Teampact Ventures, as well as tech leaders like Nate Blecharczyk, Co-Founder of Airbnb, and Arash Ferdowsi, Co-Founder of Dropbox.
 
 
Toulouse-based Beyond Aero raises $44M to electrify aviation
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