AIR, the Israeli manufacturer of electric vertical takeoff and landing (eVTOL) aircraft for both manned and unmanned uses, has raised $23 million in a Series A round led by Entrée Capital, with participation from Dr. Shmuel Harlap, one of the earliest investors in Mobileye. The round brings AIR’s total funding to approximately $50 million. The company, founded in 2018, began sales of its AIR ONE two-seat personal aircraft earlier this year.
The funding comes amid rising global demand for eVTOL aircraft, spurred in part by recent U.S. government directives encouraging the development and integration of advanced air mobility technologies.
In a conversation with Calcalist, AIR CEO and co-founder Rani Plaut explained that while the company was founded in 2018, he joined as an investor in 2019 and later became CEO. “We’re rethinking how aircraft are built and operated,” he said. “Our platform uses automotive-grade technologies and is based on a patent by Chen Rosen. We’re building a vehicle that will eventually cost under $200,000.”
The AIR ONE is designed for private recreational flying, seating two people, and already has 2,500 pre-orders. The company is also developing unmanned models for cargo delivery, emergency response, and defense applications. The Israel Ministry of Defense and Singapore are among the early customers, along with the Israeli Air Force, which purchased AIR’s first unit in late 2022.
AIR operates test flight centers in the U.S. and has conducted extensive autonomous night flights and BVLOS (Beyond Visual Line of Sight) missions. The unmanned aircraft offers a 100 km range, 220 km/h top speed, 250 kg payload, and 2 cubic meters of cargo volume.
A hybrid model with an internal combustion engine for onboard charging is in development.
AIR recently received a regulatory path to certification for AIR ONE as a Light Sport Aircraft (LSA) under the updated FAA MOSAIC regulations, positioning it to become one of the first eVTOLs certified for personal flight.
The company plans to deliver 15 cargo units in the coming year, followed by scaling up production to meet the 2,500 AIR ONE pre-orders. AIR employs around 50 people, with its main R&D and manufacturing site in Kfar Yona, Israel, and an operations center in Florida, USA.