skyTran, Inc. is a Moffett Field, CA-based developer of energy-efficient skyTran Personal Rapid Transit (PRT) and Cargo Rapid Transit (CRT) systems. The company’s product is a network of computer-controlled 2- and 4-person “jet-like” vehicles and cargo pods that employ passive skyTran MagLev (STML™) technology. skyTran maintains Technology Demonstration Systems at NASA Research Park near Mountain View, California, and in Israel. Led by CEO Jerry Sanders, the company is pursuing a global sales initiative and product roll-out. To support those plans, skyTran executed a bridge loan tied to a $30M Series B financing; the agreement was negotiated and managed by Verita Merchant Bank. The proceeds are intended to allow the company to continue its international commercialization and deployment efforts. skyTran is a NASA Space Act company headquartered at the NASA Ames Research Center. Led by CEO Jerry Sanders, the company develops a patented energy-efficient Personal Rapid Transit (PRT) system consisting of a network of computer-controlled, levitating vehicles. The vehicles use the company’s technology to transport passengers above surface traffic without stopping at other people’s stations. In parallel with its worldwide projects, skyTran is building a Technology Demonstration System (TDS) on the corporate campus of Israel Aerospace Industries to enable continuous testing, monitoring, and improvement of the technology in a controlled environment. The company recently closed a Series A funding round (amount undisclosed) and intends to use the funds to expedite and continue its global roll-out.

Total raised

$30M

Funding rounds

3

Latest round

Series B

Latest activity

Apr 2016