Funding boost for Overair's evtol Butterfly

Based in Santa Ana, California, Overair will use the funding on the ongoing development and commercialisation of Butterfly, the company’s six seat, all-electric aircraft designed to take off and land vertically.

In addition to their investment, Hanwha will also provide electric motors and battery packs for Overair's prototypes, as the two companies expand their R&D co-operation.

In a statement, Ben Tigner, co-founder and CEO of Overair said: "This is a tremendous milestone for our growing team, and we're extremely well positioned to deliver sustainable aerial ridesharing to the world through the development of Butterfly.

"We're exactly where we want to be, building a superior aircraft company with class leading mobility technology around an unrivalled aircraft while rapidly approaching the first flight of a purpose-built prototype next year. We've proven Butterfly's propulsion system, so we'll now begin validating Butterfly's ability to operate safely in real-world weather conditions, carry significant payloads, and fly incredibly quietly."