Joby Aviation wins $100M boost for flying cars

Joby air taxi
Concept art shows a possible design for Joby Aviation’s air taxi. (Joby Aviation Illustration)

California-based Joby Aviation says it has secured $100 million in Series B financing to take its all-electric passenger aircraft into pre-production and regulatory certification.

Intel Capital led the investment round, which also includes Singapore-based EDBI, JetBlue Technology Ventures, Toyota AI Ventures, Allen & Company AME Cloud Ventures, Ron Conway, Capricorn Investment Group, 8VC, Sky Dayton and Paul Sciarra. Joby also revealed a previously unsecured Series A round, led by Capricorn in 2016, which brings total funding to $130 million.

Founded by inventor JoeBen Bevirt, Joby is working to build a five-seat air taxi that will be 100 times quieter than conventional aircraft during takeoff and landing, and fly 150 miles on a charge. Bloomberg BusinessWeek reports that a prototype for the vehicle, nicknamed “Rachel,” is undergoing flight testing at Bevirt’s private airfield in Northern California.

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