Air, a startup known for its electric vertical takeoff and landing (eVTOL) aircraft, closed a new funding round of $23 million. The company intends to use the funding to ramp up its footprints in the U.S. market and to develop its eVTOL technologies.

Although there are already a number of eVTOL aircraft manufacturers, Air is not afraid to tackle a crowded market, pointing out that investors viewed it as an opportunity to support the vision of a future with regional air transport. The new funding round was supported by some strategic investors committed to supporting Air's ambitions to change regional air transport.

The new fundraising is going to support many actions, including scaling workforce, enhancing engineering effort, and moving prototypes closer to certification and commercialisation. In addition. Air's leaders stated that they would scale their manufacturing capabilities - crucial to meet their projected demand as urban air mobility takes off.

As demand rises for zero-emission transportation and promise to reduce road congestion, Air is well-positioned to take a bigger piece of the emerging market in this space, as they develop something we need in a world that has more people that require mobility.Air considers safety, efficiency, and flexibility when designing its eVTOL aircraft for passenger travel, logistics, etc. 

The CEO said he senses increased rationalization for investors' belief in eVTOL and felt there is a clearer regulatory path, which would shorten time to market. Air hopes to capitalize on the momentum in the industry and position itself firmly as the future of aviation.

The funding round continues the momentum in the eVTOL industry, which has collectively gained billions of investment around the globe as cities and companies look for sustainable alternatives in transportation. Air finds itself in a competitive landscape but believes it can differentiate itself with proprietary technology and scalable production.

What’s next for Air? Flight testing on a large scale and collaboration with regulations to ensure safety and compliance. Additionally, the new funding will support Air's efforts to build partnerships with infrastructure providers and urban planners to capitalize on the opportunities surrounding widespread adoption.