JetZero, a California-based aircraft developer working on an all-wing commercial airplane design, said Tuesday that it has raised approximately $175 million in Series B financing to support development of its aircraft program.
The round was led by B Capital and included participation from United Airlines Ventures, Northrop Grumman, 3M Ventures and RTX Ventures. JetZero said it has now raised and secured more than $1 billion in total funding and commitments, including military agreements, government grants, incentives and commercial backings.
The company said the new funding will be used to accelerate development of a full-size demonstrator aircraft, which it believes will achieve superior aerodynamics over conventional tube-and-wing designs. JetZero aims for a first flight with its demonstrator in 2027. It said it is developing the aircraft as part of ongoing efforts to evaluate blended-wing-body configurations for potential commercial use.
“The strength and diversity of our investor base reflects the momentum behind JetZero and the industry’s readiness to reshape the future of aviation,” JetZero co-founder and CEO Tom O’Leary said in a statement.
Jeff Johnson, a general partner at B Capital, said in the same release that the company’s aircraft design is intended to address efficiency challenges facing the aviation sector.
JetZero was founded in 2020 and aims to have a design enter commercial service in the early 2030s.
