Long Beach-based Odys Aviation closed a $26 million series A funding round, aimed at speeding up the dual-use aviation company’s flight testing for the Laila aircraft.
The Laila aircraft was “designed for (vertical take-off and landing) operations with hybrid-electric propulsion, extended range, high payload capacity and advanced autonomous capabilities,” per a release.
Preparing for a global launch in the first quarter of next year, Odys will also utilize some of the funding to support a larger staff.
Guiding Odys’ operations is the belief that “advanced air mobility is not just about aircraft in isolation but about building the operational ecosystem that will connect regions, economies and ultimately communities in entirely new ways,” the release stated. This is supported by the firm’s recent partnership with Oman Civil Aviation Authority and the Ministry of Transport, Communications and Information Technology to establish a program rooted in regulatory framework and innovation for air mobility trials.
“We’re developing the infrastructure, autonomy and operational frameworks needed to integrate AAM into real-world airspace and regulatory environments,” Andy Apple, vice president of strategy for Odys, said in a statement.
This funding comes after Odys reported it successfully tested its hybrid propulsion system and received the necessary certifications from the Joint Authorities for Rulemaking on Unmanned Systems’ Specific Operations Risk Assessment.
The series A fund was led by Nova Threshold with contributions from Tuchen Ventures and others.
“Odys is positioned to meet strong customer demand for longer-range, high-efficiency regional mobility,” said Justin Hamilton, managing director of Nova Threshold. “… By targeting unmanned cargo and defense applications within existing U.S. and international regulations, Odys is creating a faster, more credible path to market readiness and long-term profitability, setting the stage for future manned operations.”
