Nautical Wings Aerospace, a company specializing in electric propulsion technology for aviation, has successfully raised an undisclosed amount in its pre-Series A funding round. The investment came from Venture Catalysts and 1Crowd.
The funds will be utilized to accelerate the company’s research and development efforts, expand its team of engineers, and scale operations to meet the rising global demand for electric propulsion solutions in aviation.
Founded in 2020 by Shiv Varun Singh Rajput, Praveen T, and Vikas Kamath, Nautical Wings Aerospace focuses on developing customized propulsion solutions for original equipment manufacturers (OEMs) worldwide. The company’s flagship product, the Integrated Electric Propulsion Unit (iEPU), is designed as a turnkey solution to facilitate adoption for drone manufacturers and air mobility companies. The iEPU features a plug-and-play design, enabling easy integration across various aircraft types and streamlining the development process.
The electric aircraft propulsion market is expected to grow at a compound annual growth rate (CAGR) of 15.3%, from $6.5 billion in 2022 to $20.3 billion by 2030, presenting a substantial opportunity for Nautical Wings Aerospace.
The company’s B2B model offers enterprise hardware technology to aircraft OEMs, positioning it well to capitalize on the expanding market for electric aviation solutions.
