The future of high-speed commercial air travel just caught a tailwind with the announcement of Denver-based Boom Supersonic’s super-sized Series B.
The startup, whose Mach-2.2 airliner Overture would be the world’s first economically viable supersonic jet, closed a $100 million investment round this morning. The funding enables Boom to accelerate the development of its aircraft and continue its work building out a one-third-scale manned prototype set to make its maiden voyage later this year.
Designed to accommodate the next wave of alternative fuel sources and leveraging advanced aerodynamics, composite materials and engines, Overture is poised to become the most eco-friendly and accessible supersonic jet ever created.
“At Boom, our vision is to remove the barriers to experiencing the planet,” said Founder and CEO Blake Scholl in a statement. “Today, the time and cost of long-distance travel prevent us from connecting with far-off people and places. Overture fares will be similar to today’s business class — widening horizons for tens of millions of travelers. Ultimately, our goal is to make high-speed flight affordable to all.”
Today, the time and cost of long-distance travel prevent us from connecting with far-off people and places... Ultimately, our goal is to make high-speed flight affordable to all.”
The Overture airliner is expected to begin passenger services in the mid-2020s and has already received 30 pre-orders from carriers like Virgin Group and Japan Airlines. As Boom kicks production into overdrive this year, it expects to double its more than 100-person team, which recently relocated to a new state-of-the-art facility in Centennial.
The round was led by Emerson Collective with participation from Y Combinator Continuity, Caffeinated Capital and SV Angel, as well as founders and early investors of big names like Google, Airbnb, Stripe and Dropbox. The Series B brings Boom’s total funding to more than $141 million.
“Our interest in Boom is driven by its vision to enable greater human connection and more empathetic natural and cultural experience through ecologically conscientious design,” said Andy Karsner, managing partner at Emerson Collective and leader of Elemental, its energy and environmental affiliate. “Boom has the leadership, values and potential to accelerate many advances — lightweight carbon composites and greener fuels — that will reduce the climate impacts of aviation. We’re thrilled to partner with a company that’s committed to revolutionizing travel responsibly.”