Karem Aircraft’s new venture is focused exclusively on bringing the Butterfly eVTOL air taxi to market. The Butterfly is a quad tiltrotor design that combines vertical-lift capability with fixed-wing speed and uses rotors with variable RPM for improved efficiency. The spin-off targets urban air mobility and is aligned with Uber Elevate’s vehicle partnerships. The company raised a $25 million Series A led by Hanwha Systems to accelerate commercialization. Leadership of the new venture is headed by CEO Ben Tigner, while Karem Aircraft will continue serving military customers separately. Uber has said it expects to begin testing next year and aims for commercial deployments in Los Angeles, Dallas–Fort Worth/Frisco, and Melbourne in 2023.

Total raised

$25M

Funding rounds

1

Latest round

Series A

Latest activity

Jul 2019