Nautical Wings Aerospace, a pioneer in electric propulsion technology for the aviation sector, has secured pre-Series A funding from Venture Catalysts and 1Crowd. The exact amount of the investment remains undisclosed.
This funding round will accelerate Nautical Wings Aerospace’s research and development initiatives, expand its team of expert engineers, and scale its operations to address the increasing global demand for electric propulsion solutions in aviation.
Founded in 2020 by Shiv Varun Singh Rajput, Praveen T, and Vikas Kamath, Nautical Wings Aerospace specializes in creating customized propulsion systems for original equipment manufacturers (OEMs) worldwide. The company’s flagship product, the Integrated Electric Propulsion Unit (iEPU), is designed as a comprehensive solution to facilitate the adoption of electric propulsion technology by drone manufacturers and air mobility companies. The iEPU’s plug-and-play design allows for seamless integration across various aircraft, catering to diverse client needs and simplifying the development process.
Market research forecasts a robust growth trajectory for the electric aircraft propulsion market, predicting a compound annual growth rate (CAGR) of 15.3%. The market, valued at $6.5 billion in 2022, is expected to reach $20.3 billion by 2030. This expansion presents a substantial opportunity for Nautical Wings Aerospace to capitalize on the evolving landscape of aviation technology.
The investment from Venture Catalysts and 1Crowd underscores the growing interest in sustainable aviation solutions and positions Nautical Wings Aerospace for significant growth in the coming years.
