Aero Technologies secures US$65M in Series B financing

Next-generation premium air travel company Aero Technologies has announced a new funding round which includes a US$65M capital raise, $50M in Series B funding and $15M in convertible notes, for a total post-money valuation of $300M.

The funding round was co-led by investment firms Albacore Capital Group, Expa and Keyframe Capital, with new investment from Capital One Ventures.

Aero says it is redefining semi-private air travel and is inspired by the golden age of aviation and designed for modern life, serving premium leisure travellers through private terminals. The operator has a fleet of sleek, black planes and flies to destinations within the US and Europe. According to the company, the Series B funding will be used to drive the company’s global market expansion and to further answer increased demand on existing routes.

Aero offers flights currently to Aspen, Los Cabos and Sun Valley from private US terminals in Los Angeles Van Nuys and San Francisco, as well as to Ibiza, Mykonos and Nice from London’s Farnborough Airport.

Uma Subramanian, Chief Executive Officer of Aero commented on the announcement: “I am really excited to announce Aero’s Series B raise to further ignite growth and expand into new markets. Aero’s success over the last few years highlights that customers in both the US and Europe have been waiting for the Aero travel experience. Aero is growing fast, and we look forward to bringing the Aero experience to new markets in the coming months.”

“Aero has consistently delivered an unforgettable flying experience, and proven to be a leader in the next chapter of premium air travel,” said John Rapaport, Chief Investment Officer at Keyframe Capital. “Aero has built a recognisable brand and a thoughtful jet service that customers love. We are excited to continue building upon Aero’s successes and to be by their side to develop next-level global air travel experiences.”