HOUSTON, March 3, 2021 /PRNewswire/ -- Venus Aerospace, a startup company pushing the boundaries of high-speed transportation, has closed on a $3 million round of seed funding led by Prime Movers Lab, an investor in breakthrough scientific startups that will revolutionize the world's most important industries and transform billions of lives.
With the new round of funding, Venus Aerospace will build out its Mach 12 hypersonic aircraft designed to travel at the edge of space, allowing passengers to go from Los Angeles to Tokyo in one hour.
"We are excited to partner with our new investors on this bold vision," said Venus Aerospace co-founder and CEO Sarah "Sassie" Duggleby. "This futuristic concept that was once a dream is now reality, and watching it physically unfold with a team of talented scientists and engineers is just incredible."
This funding, combined with previous government investments, will go to the development of reusable and efficient advanced rocket engines and aerodynamic technologies.
"For decades, a space plane has been the dream of high-speed global travel—but always too far out of reach," said co-founder and CTO Dr. Andrew Duggleby. "However, a new significant shift in both rocket engine and hypersonic technologies finally make it possible. This funding allows us to accelerate our development program and press ahead toward our next milestones."
In addition to Prime Movers Lab, investors included Draper Associates, Boost VC, Saturn Five and X-Factor Ventures. Brandon Simmons, of Prime Movers Lab, will serve on the Venus Aerospace Board of Directors.
"Andrew, Sassie and the team bring world-class experience and significant technical breakthroughs to Venus, and we are thrilled to partner with them," Simmons said. "The civilian and defense applications for this technology are massive, and this team has significant early interest from multiple key partners."
About Venus Aerospace Venus Aerospace is a startup pushing the boundaries of high-speed transportation. Founded by Sarah "Sassie" Duggleby and Dr. Andrew Duggleby, Venus Aerospace is focused on developing a Mach 12 hypersonic aircraft designed to travel at the edge of space, allowing passengers to fly around the world and still make it home in time for dinner.