Greenjets announces $7m Funding Round

Greenjets, a leader in advanced electric propulsion systems, announced the successful completion of a $7 million Pre-Series A funding round at the end of Q3 last year. This achievement marks a significant milestone in the company's rapid growth since its inception.​

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In just two years, Greenjets has expanded from a team of eight operating out of a trailer to a company renowned for its expertise in electric propulsion and airframe-propulsion integration. The company now boasts a dedicated manufacturing facility and a global supply chain, positioning it to produce hundreds of engines in 2025. This progress underscores Greenjets' commitment to advancing electric propulsion technology.​

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The funding round was led by Tanglin Venture Partners, with participation from 7percent Ventures, Spacewalk VC, z21 Ventures, MD One Ventures, Fuller Family Ventures, AC Hammer, Jalex Futures Ltd, and angel investors. This diverse group of investors reflects strong confidence in Greenjets' vision and technological capabilities.​

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Greenjets has been at the forefront of several innovative projects. In July 2023, the company secured a £50K grant for Project DATA, a collaboration with the Whittle Laboratory at the University of Cambridge. This project aims to develop an AI-driven design tool for e-propulsors in the aviation sector, focusing on Advanced Air Mobility applications such as drones, air taxis, and electric commuter aircraft. The initiative is funded by Innovate UK's Bridge AI programme.

Additionally, Greenjets launched Project HyFan in July 2023, funded by a £550K grant from Innovate UK. This 18-month programme aims to develop and de-risk key technologies required for an integrated hydrogen fuel cell propulsor designed for the commercial drone market. Collaborating with Bramble Energy, TOffeeAM, and Aurata Technologies, the project seeks to address challenges in current fuel cell systems for drones, such as payload volume and maintenance downtime. ​

In June 2023, Greenjets partnered with Firestorm Labs to develop next-generation attritable drone swarming solutions. This collaboration focuses on creating a 100% additively manufactured UAV airframe and engine solution, leveraging both companies' expertise in advanced manufacturing and propulsion technologies. The partnership aims to produce UAVs capable of performing a wide array of mission sets from a common platform. ​

Greenjets also celebrated an important milestone in March 2024 with the development of the InCEPTion propulsion module. This electric, fully operational demonstrator propulsion module is designed for aircraft weighing less than five tonnes. The project, supported by Ricardo plc, showcases Greenjets' commitment to creating scalable and efficient propulsion systems that aim to reduce operating costs in the aerospace industry.

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The recent funding will enable Greenjets to further its research and development efforts, expand manufacturing capabilities, and accelerate the commercialization of its electric propulsion systems. The company's dedication to innovation and sustainability positions it as a key player in the future of advanced air mobility.​

Greenjets' success is a testament to the dedication of its team, the support of its investors, and the confidence of its early customers. As the company continues its journey through 2025, it remains focused on delivering cutting-edge propulsion solutions that meet the evolving needs of the aviation industry.​

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About MD One

Founded in 2021 as Europe's first National Security specialist VC, MD One Ventures is a Venture Capital firm, investing in Pre- Seed to Series A National Security technology companies.

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