Sunday, February 4, 2018

Intel leads $100 million investment in Joby Aviation

Joby Aviation, a start-up developing an all-electric vertical take-off and landing (eVTOL) passenger aircraft, raised $100 million in a Series B funding round led by Intel Capital.

Joby Aviation is working on a 5-seat aircraft capable of flying 150 miles (240km) on a charge.  The company is based in Santa Cruz, California.

Besides Intel Capital, additional investors in this funding round included Singapore-based EDBI, JetBlue Technology Ventures, Toyota AI Ventures, Allen & Company, AME Cloud Ventures, and Ron Conway, as well as existing investors Capricorn Investment Group, 8VC, Sky Dayton and Paul Sciarra. This brings the company’s total funding to over $130 million.

“People waste billions of hours sitting on roads worldwide each year. We envision a future where commuting by eVTOL is a safer, faster, and  cost-competitive alternative to ground transportation,” said Joby Aviation founder and CEO JoeBen Bevirt. “We have spent the last ten years developing
the technologies that have made our full-scale technical demonstrator possible and are now ready to build a commercial version of the aircraft. We’re excited to have attracted the backing of leaders in auto manufacturing, data intelligence, and transportation sectors.”


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