Funding and a CEO for Elroy Air
Elroy Air, a leader in middle-mile aerial autonomous logistics, has appointed Andrew Clare as the new chief executive officer to lead the company in its next phase of scaling the company’s hybrid-electric, vertical takeoff and landing aircraft (hVTOL), the ‘Chaparral’.
Elroy achieved a historic milestone with the first flight of its hybrid-electric powertrain in 2023, marking a breakthrough in aviation technology. The company continued to push boundaries in 2024 with autonomous flight testing and rigorous expansion. The company has completed the first round of additional funding to accelerate the production of its ‘Chaparral’ aircraft, designed to carry 300 lbs over a range of 300 miles.
The round was led by Marlinspike Partners, with participation from investors and industry giants including Shield Capital, Snowpoint, Lockheed Martin Ventures, Milano Investment Partners, DiamondStream Partners and Levitate Capital. (cj)