Boeing Announces Investment of $450 Million in Wisk
A Brief Summary
Wisk, an advanced air mobility (AAM) firm, said that it has received $450 million in investment from Boeing to advance the development of its current generation of electric vertical take-off and landing (eVTOL) aircraft. Wisk is now one of the most well-funded AAM firms in the fast-growing market, thanks to the fresh investment.
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Wisk has several aviation and industry firsts to its credit, including the first flight of an all-electric, autonomous, eVTOL aircraft built for passenger usage in the United States, and the business plans to operate one of the industry's biggest fleets of AAM eVTOL aircraft in the future. The company's 6th generation eVTOL aircraft is the first autonomous, all-electric, passenger-carrying aircraft to be considered for certification in the United States.
The money will support the company's go-to-market and near-term expansion ambitions, including the start of scale production, in addition to the eVTOL development.
The deal is the latest development in the drive to develop advanced aviation and low-carbon aircraft technologies. Last year, eVTOL firm BETA Technologies secured $368 million in a private fundraising round headed by Fidelity and backed by Amazon's Climate Pledge Fund, and United Airlines established a partnership with eVTOL developer Archer to help build the battery-powered, short-haul aircraft. Honeywell and DENSO, a mobility provider, have allied to research and produce electric propulsion systems for aeroplanes. Eve, an Embraer subsidiary, partnered with Falko, a commercial regional aircraft leasing firm, earlier this year to build a global network of eVTOL operators to serve Urban Air Mobility missions.
Marc Allen, Chief Strategy Officer of Boeing said: “With this investment, we are reconfirming our belief in Wisk’s business and the importance of their work in pioneering all-electric, AI-driven, autonomous capability for the aerospace industry. Autonomy is the key to unlocking scale across all AAM applications, from passenger to cargo and beyond. That’s why straight-to-autonomy is a core first principle. Boeing and Wisk have been at the forefront of AAM innovation for more than a decade, and will continue to lead in the years ahead.”
Gary Gysin, CEO of Wisk added: “Wisk is extremely well-positioned to deliver on our long-term strategy and commitment to safe, everyday flight for everyone. We are incredibly fortunate to have Boeing as not only an investor but a strategic partner, which provides us with access to a breadth of resources, industry-leading expertise, a global reach, extensive certification experience, and more. As we enter this next stage of our growth, this additional funding provides us with capital while allowing us to remain focused on our core business and our number one priority, safety.”
