Elroy Air completes funding first close and names Andrew Clare CEO
Elroy Air completed the first close of an undisclosed financing led by Marlinspike Partners and appointed Andrew Clare as CEO; founder Dave Merrill became Executive Chairman.
Evidence notes
- Shield Capital, Snowpoint Ventures, Lockheed Martin Ventures, Milano Investment Partners, DiamondStream Partners and Levitate Capital participated.
- The financing was allocated to Chaparral productization.
- Clare brought vehicle-program experience across autonomy, aerospace, automotive and robotics.
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.