Eve Air Mobility has raised $94 million in new equity financing to scale the development of its eVTOL.
The Brazilian company now has letters of intent for 2,900 eVTOLs with a value of approximately $14.5 billion and potential service revenue worth up to $935 million.
A diverse group of global industrial companies were involved in the round including Embraer, Nidec and additional financial investors.
Eve’s mission is to reimagine people’s relationship with time, space and the city by creating safe, sustainable and efficient air mobility experiences.
The company offers integrated solutions from an eVTOL aircraft to customer services, including Vector, its innovative urban air traffic management software solution. This is designed to address the unique air traffic and networking management challenges to enable integrated advanced air mobility operations.
The 100% electric aircraft has a 60-mile range and will be used for short-distance, intra-city flights.
Eve has been exercising the future of UAM with partners in diverse regions for different use cases. One example is the simulation it performed in Rio de Janeiro, simulating a route from Barra da Tijuca (a neighbourhood in the city) to RIOgaleão International Airport. This route can take over one hour by car but about a 15-minute flight. These simulations were performed using a helicopter as a substitute for an eVTOL.
“We appreciate the confidence that these investors are placing in Eve. The new equity, along with existing cash and credit lines, ensures Eve is well positioned as we continue to build momentum and advance in the development and manufacturing of our eVTOL,” said Eve Air Mobility CFO Eduardo Couto.
“With the industry’s largest pre-order book with letters of intent for 2,900 aircraft and strong program development partners, Eve has continued to demonstrate the opportunity that our company presents for both strategic and financial investors.”
