Ampaire raises $19M Series B funding from IAG, Alaska

Ampaire raises $19M Series B funding from IAG, Alaska

Californian startup Ampaire, which is developing hybrid-electric aircraft, has raised $19 million in Series B funding.  This fresh capital round, which brings the total raised so far by Ampaire to $68 million, has been led by DiamondStream Partners. Other investors include the venture capital arm of two prominent airline groups, International Air Group (IAG) and Alaska Airlines, as well as a number of other venture capital firms, such as Forward…

Ampaire closes USD19 million financing round to support hybrid electric aviation propulsion development

Ampaire, developer of hybrid-electric aviation propulsion systems, today announced the closing of a USD19 million Series B financing led by DiamondStream Partners. The financing brings Ampaire’s total funding to USD68 million, including approximately USD25 million in non-dilutive grants and contracts supporting the development and demonstration of its technologies and products, said the company in a press release. “This financing is about turnin…

IAG joins funding round for hybrid-electric APU startup

International Airlines Group (IAG) and Alaska Airlines have backed a US$19 million Series B funding round for Ampaire, a startup in hybrid-electric auxiliary power units (APUs). APUs keep aircraft systems running while planes are on the ground. However, most burn fuel. Ampaire will work with IAG to develop new technology for APU retrofits that will combine conventional engine power with electricity. IAG’s investment came from the group’s startup…

Ampaire Raises $19 Million to Advance Hybrid-Electric Aircraft Commercialization

Ampaire has closed a $19 million Series B financing round as the hybrid-electric aviation developer moves to expand flight operations, manufacturing and certification work. The round was led by DiamondStream Partners, with strategic participation from Alaska Star Ventures and IAGi Ventures, the corporate venture arms of Alaska Air Group and International Airlines Group. The financing