Electra has announced the successful closure of a US$115 million Series B funding round to support the next stage of development for its pioneering EL9 aircraft—the world's first ultra short take-off and landing aircraft. This funding will enable Electra to progress into the pre-production and certification phase of the EL9, which is capable of taking off and landing in just 150 feet—approximately ten percent of the space required by conventional aircraft of similar size.
The investment round was led by Prysm Capital, with Jay Park, Prysm's Co-Founder and Managing Partner, joining Electra's Board of Directors. “We are delighted to welcome Jay and Prysm to the Electra family,” said Electra Board Chair John Langford. “They've already become an indispensable partner and advisor as we transition from prototype to product with the EL9.”
The EL9 is a nine-passenger hybrid-electric aircraft that employs blown lift technology to enable helicopter-like vertical capabilities combined with the quiet operation of electric propulsion and the efficiency and safety of a fixed-wing design. This combination offers both commercial and military users unprecedented operational flexibility.
Commercially, the EL9 opens up access to communities lacking conventional aviation infrastructure, supports cargo services, and allows operations in airports with noise restrictions. For defence use, the aircraft provides innovative solutions for low-signature logistics and mobile power capabilities in remote or rugged environments.
Electra has already secured over 2,200 provisional orders valued at more than US$10 billion—one of the largest in the Advanced Air Mobility sector. It has also received over 20 contracts under the U.S. government's Small Business Innovation Research programme, including work with NASA and multiple branches of the military. The EL9 can carry up to 3,000 pounds of payload, fly up to 1,100 nautical miles, and recharge in flight—eliminating the need for ground-based charging infrastructure.
Strategic investors in the venture include Lockheed Martin Ventures, Honeywell, Safran, Prysm Capital, Statkraft Ventures, and the Virginia Innovation Partnership Corporation, among others.
