The raise values by-the-seat private jet airline Aero at $300 million and provides for expanding its network of scheduled flights
Aero Technologies, Inc. announced a $65 million capital raise.
It includes $50 million in Series B funding and $15 million in convertible notes, for a total post-money valuation of $300 million, according to the provider of by-the-seat private jet flights.
The funding round was co-led by AlbaCore Capital Group. It features returning investors Expa and Keyframe Capital, with new investment from Capital One Ventures.
The provider uses converted regional jets and private jets offering scheduled flights from private terminals.
Series B funding will be used “to drive the company’s global market expansion and to further answer increased demand on existing routes.”
Currently, Aero offers flights to Aspen, Los Cabos, and Sun Valley from Los Angeles (Van Nuys) and San Francisco (SFO). In Europe, it flies to Ibiza, Mykonos, and Nice from London’s Farnborough Airport.
“I am really excited to announce Aero’s Series B raise to further ignite growth and expand into new markets. Aero’s success over the last few years highlights that customers in both the U.S. and Europe have been waiting for the Aero travel experience,” said Uma Subramanian, Chief Executive Officer of Aero.
“Aero has consistently delivered an unforgettable flying experience and proven to be a leader in the next chapter of premium air travel,” said John Rapaport, Chief Investment Officer at Keyframe Capital.
He added, “Aero has built a recognizable brand and a thoughtful jet service that customers love. We are excited to continue building upon Aero’s successes and to be by their side to develop next-level global air travel experiences.”
Aero is part of our Guide to Shared Private Jet Flights, available to paid subscribers.