Regent Craft Secures $60 Million in Series A Funding to Revolutionize Sustainable Seagliders
Regent Craft, a Rhode Island-based manufacturer pioneering all-electric seagliders, announced a significant milestone on Oct. 5 the successful raising of $60 million in Series A funding. This funding round was co-led by 8090 Industries and Founders Fund, with participation from esteemed investors such as Japan Airlines Innovation Fund, Point72 Ventures, Lockheed Martin, and Yamato Holdings. It also saw additional support from Point72 Ventures, Caffeinated Capital, Mark Cuban, UAE’s Strategic Development Fund, and Future Planet Capital. This latest funding brings Regent’s total funding to an impressive $90 million.
Regent Craft’s ambitious goal is to develop, certify, manufacture, and deliver all-electric seagliders to customers by the middle of this decade. Seagliders represent an innovative mode of coastal transportation, offering fast, affordable, and zero-emission travel. These cutting-edge vehicles combine hydro-foiling watercraft technology with electric aviation, enabling them to function as boats in docks and harbors. They take off from wave-tolerant hydrofoils and glide within a wingspan’s distance above the water’s surface. Seagliders can reach remarkable cruise speeds of up to 180 mph and cover distances of up to 180 miles on a single charge.
In 2022, Regent Craft made history by successfully demonstrating the “float, foil, fly” mission with a subscale prototype, a first-ever achievement combining the wave tolerance of a foil with the speed of a wing. The next significant milestone on their roadmap is to achieve crewed flight with their full-scale prototype, scheduled for the following year.
Billy Thalheimer, co-founder and CEO of Regent, expressed his excitement, saying, “There are extraordinarily few companies today with battery-powered vehicles that can fly with human crews, and Regent is about to join those ranks. Seagliders will be the first economically viable electric flying machines, and I’m willing to bet that the majority of the world will soon take a ride in one.”
Thalheimer continued, “8090 Industries is the perfect lead investor for this round, with a deep bench of industrial titans focused on sustainability, aerospace, and defense. Their support will aid in scaling Regent’s global footprint. We’re also thrilled to have Founders Fund on board, as their vision aligns perfectly with our goal to revolutionize regional travel. The validation from these incredible strategic partners underscores the urgent need for a high-speed, low-cost, sustainable mobility solution.”
Kerem Ozmen, co-founder and CEO of 8090 Industries, highlighted the alignment of Regent’s mission with their investment pillars: sustainability and aerospace and defense. He noted, “With about a quarter of the planet’s CO2 emissions coming from transportation, and with the sector growing faster than any other, the time to act with new technologies is now. Regent will be one of the first manufacturers in the advanced air mobility vertical to complete certification and bring their product to market.”
Delian Asparouhov, partner at Founders Fund, praised Regent’s potential to transform the transportation sector, emphasizing the importance of ambitious technologies in growing the U.S. industrial base.
Seagliders are purpose-built to serve coastal communities, targeting a market segment estimated to be worth $25 billion by 2030. Regent Craft offers two key products: Viceroy, capable of carrying 12 passengers up to 180 miles with existing battery technology, and Monarch, designed to transport 100 passengers on routes spanning up to 500 miles.
Regent has already secured a commercial order book for over 500 seagliders, valued at more than $8 billion, from global airline and ferry customers, including names like Mesa Airlines, Brittany Ferries, and FRS. This strong demand underscores the multi-sector excitement for this sustainable mobility solution. Southern Airways is set to take delivery of the first production Viceroy, operating it under their Mokulele Airlines brand. Seagliders also have diverse applications, from passenger travel to cargo transport, search and rescue, offshore logistics, and defense.
Regent anticipates the Viceroy seaglider entering into service by mid-decade, with the support of the U.S. Coast Guard and other global maritime authorities, while the Monarch is expected to enter service by the end of the decade.
Regent Craft is a pioneer in sustainable maritime transportation, utilizing innovative technology to create fast, efficient, and emission-free vehicles. Seagliders, their flagship product, combine the speed of airplanes with the maneuverability of boats, operating exclusively over water using existing dock infrastructure. With over $8 billion in orders from major airlines and ferry operators across six continents, Regent Craft is poised to revolutionize transportation. For more information, please visit regentcraft.com.