Electra secures USD 115 million for the first ultra-short aircraft

Electra is developing the world's first hybrid aircraft for extremely short take-off and landing distances. Pre-production is now starting with USD 115 million backing from a Series B.

Manassa, VA (USA), April 22, 2025 - Electra, a pioneer in Advanced Air Mobility, has raised $115 million in a Series B funding round to bring its revolutionary EL9 Ultra Short aircraft model into pre-production and certification. The EL9 is the world's first aircraft that can take off and land at only 150 feet (about 45 meters) - requiring only about 10% of the space needed by conventional aircraft of similar size.

The round was led by Prysm Capital, whose co-founder Jay Park now also sits on Electra's Board of Directors. Other strategic investors include Lockheed Martin Ventures, Honeywell, Safran, Statkraft Ventures and the Virginia Innovation Partnership Corporation (VIPC).

EL9: Bridge between helicopter and jet

The nine-seat hybrid electric aircraft EL9 combines blown-lift technology with fixed wing and propeller design to offer the maneuverability of a helicopter, the quietness of an electric vehicle and the cost and safety advantages of a fixed-wing aircraft.

We are opening a new chapter in aviation - practical, sustainable and game-changing. The EL9 not only opens up new routes in civil aviation, but also offers decisive logistical advantages for armed forces.

Marc Allen, CEO Electra

Civil and military applications

The EL9's flexibility - for example, when taking off from parking lots, lawns or repurposed heliports - makes the aircraft attractive for remote regions, cities with noise restrictions or short-term missions. At the same time, it brings new opportunities for cargo, regional transport and defense.

Electra is currently working on several government projects, including over 20 SBIR contracts with NASA, the US Air Force, Army and Navy. In total, the company already has over 2,200 pre-orders valued at more than $10 billion - a record in the commercial advanced air mobility market.

With the EL9, we are opening up markets and mission scenarios that were previously unattainable. Electra is defining a whole new class in aviation with this aircraft.

Jay Park, Prysm Capital

The EL9 can carry up to 3,000 pounds of payload and achieve a range of 1,100 nautical miles (approx. 2,000 km). Thanks to an in-flight battery charging system, there is even no need for ground charging infrastructure. Electra currently employs around 80 people and is considered a category founder in the ultra-short segment.