Elroy Air raises $40M Series A for Chaparral development
Elroy Air raised a $40 million Series A from Marlinspike Capital, Lockheed Martin Ventures and Prosperity7 Ventures, bringing disclosed funding at the time to $48 million.
Evidence notes
- Catapult Ventures, DiamondStream Partners, Side X Side Management, Shield Capital Partners and Precursor Ventures also participated.
- The company planned to complete pre-production aircraft, advance certification and begin flight validation with U.S. Air Force and Navy partners.
- The round financed Chaparral integration, test operations and supply-chain development.
Company context
Elroy Air builds Chaparral, an autonomous hybrid-electric VTOL cargo aircraft for middle-mile logistics, military resupply, humanitarian aid and rapid-response missions.