A Munich-based aerospace startup on a mission to make affordable, zero-emission regional flights an everyday reality has raised €30m in a new funding round, it said today.
VÆRIDION is developing an electric nine-seater aircraft, which operates entirely on battery-powered electric propulsion and is designed to travel up to 400km, serving passengers and cargo.
The startup aims to replicate what electric cars have done for road transport, replacing fossil-fuelled vehicles with battery-powered alternatives. It was founded in 2021 by two former Airbus managers, Ivor van Dartel and Dr Sebastian Seemann.
Its patented prototype Microliner is starting as a nine-seater aircraft, with plans to scale the technology to offer pan-European flights. It is targeting 2030 for the Microliner to enter commercial service.
It says the Microliner emits less noise than conventional aircraft, making it well-suited to smaller airfields and easy to roll out in underserved areas.
The Series A2 funding round was led by SHIFT Invest, the Netherlands-based VC, and Invest-NL, the Netherlands' national investment institution, with participation from existing investors World Fund, Project A and Vsquared Ventures.
VÆRIDION has raised approximately €60 million to date and the new funding will be geared toward developing the first prototype of the Mircroliner.
The startup also said it has been selected by the EU for a €94.5 million Innovation Fund grant as it looks to develop its Microliner aircraft to manufacture it at industrial scale.
Ivor van Dartel, founder and CEO of VÆRIDION, said: “Over the past year, we have
turned the Microliner from a validated design into hardware, with exceptional capital
efficiency. Our propulsion and battery technology is now being tested at our own facility in
Oberpfaffenhofen. This equity round enables us to build our first conforming aircraft."
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