Boom raises $100 million for its Overture supersonic aircraft
Boom Supersonic has closed a $100 million (£78.5 million) Series B investment round, bringing total funding to over $141 million (£110.7 million).
The proceeds of Boom’s Series B round, which include $56 million (£43.9 million) in new investment as well as previously announced strategic investments, will allow the company to advance the development of its Mach-2.2 commercial airliner, named Overture.
Investors, led by Emerson Collective, include Y Combinator Continuity, Caffeinated Capital and SV Angel, as well as founders and early backers of companies like Google, Airbnb, Stripe and Dropbox.
The Boom vision
“This new funding allows us to advance work on Overture, the world’s first economically viable supersonic airliner,” said Blake Scholl, founder and CEO of Boom Supersonic.
“At Boom, our vision is to remove the barriers to experiencing the planet."
"Today, the time and cost of long-distance travel prevent us from connecting with far-off people and places. Overture fares will be similar to today’s business class – widening horizons for tens of millions of travellers. Ultimately, our goal is to make high-speed flight affordable to all.”
Andy Karsner, Managing Partner at Emerson Collective and leader of Elemental, its energy and environmental affiliate, commented: “Our interest in Boom is driven by its vision to enable greater human connection and more empathetic natural and cultural experience through ecologically conscientious design. Boom has the leadership, values, and potential to accelerate many advances – lightweight carbon composites and greener fuels – that will reduce the climate impacts of aviation.
"We’re thrilled to partner with a company that’s committed to revolutionizing travel responsibly.”
Boom says the carbon footprint of its Overture airliner will be similar to flying international business class today. It also says Overture’s take-off and landing will be as quiet as the subsonic aircraft flying similar routes today.
Boom is currently assembling XB-1, a one-third-scale manned prototype of its Mach-2.2 airliner. XB-1 will be piloted by Chief Test Pilot Bill “Doc” Shoemaker and is set to fly later this year.