Poseidon Aerospace raises $11M to build unmanned cargo aircraft
What's the deal? Poseidon Aerospace, a San Francisco-based maker of unmanned cargo platforms, has raised $11 million in seed funding. Tamarack GlobalDealroom has a profile for this one. Try Dealroom → led the round, with participation from Draper Associates, Starship VenturesDealroom has a profile for this one. Try Dealroom →, Drover VenturesDealroom has a profile for this one. Try Dealroom →, Cade VenturesDealroom has a profile for this one. Try Dealroom →, GoAhead VenturesDealroom has a profile for this one. Try Dealroom →, and Fortitude VC.
What's the endgame? The company builds unmanned aircraft optimised for heavy-lift cargo missions for commercial and defence customers. Its vertically integrated platforms are designed to carry up to two tons of cargo over ranges up to 1,500 miles, operating from water, remote coastlines, and unfinished runways.
The funds will go toward developing and manufacturing two aircraft: Egret, a short takeoff and landing plane, and Heron, a seaplane.
Who's behind it? Poseidon Aerospace is led by chief executive officer David Zagaynov and chief technology officer Parker Tenney. It maintains an office in Washington, DC, and a manufacturing facility in Brunswick, Maine.
The signal: Investor interest in unmanned aircraft spanning commercial and defence use points to growing demand for autonomous logistics in hard-to-reach environments — where conventional runways and crewed flights fall short.
Image credit: Office of Naval Research
