Boom Aviation. the US-based supersonic jet developer that counts online travel agency Ctrip and air carrier Japan Airlines as investors, is raising $50m in funding, Bloomberg reported yesterday.
The round is being led by venture capital firm WRVI Capital at a valuation in excess of $1bn, Boom CEO Blake Scholl told Bloomberg, adding that the company has now received about $210m in funding since it was founded in 2014.
Boom is designing a jet aircraft capable of reaching supersonic speeds, meaning it could theoretically travel from Los Angeles to Sydney in less than nine hours. It expects to have a full-scale version of the Overture jet ready for 2022, with commercial flights slated for 2026.
Japan Airlines provided $10m for the company in 2017, adding to earlier funding from Caffeinated Capital, Y Combinator Continuity, Palm Drive Ventures, Lightbank, RRE Ventures and 8VC. Ctrip supplied an undisclosed sum in April 2018.
Emerson Collective subsequently led Boom’s $100m series B round in January 2019, participating alongside Y Combinator Continuity, Caffeinated Capital, SV Angel and various private investors.
