BluJ Aerospace Secures $2.25 Million In Seed Funding With this funding, BluJ will further expand hiring, build its state-of-the-art facilities, and establish the testing infrastructure required to move toward certification
By Teena Jose •
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
BluJ Aero, an aviation startup, has raised $2.25million in Seed funding to develop a hybrid-electric VTOL aircraft powered by Hydrogen Fuel cell technology for regional transportation. The funding round is led by Endiya Partners and Ideaspring Capital with participation from Rainmatter Foundation. According to the company, the round of funding will help BluJ accelerate the development of its first commercial product - a fully autonomous cargo e-VTOL aircraft, with a payload of over 100 kgs and long-range capability. It further added that, with this funding, BluJ will further expand hiring, build its state-of-the-art facilities, and establish the testing infrastructure required to move toward certification.
"We're thrilled to have secured the seed funding and are excited to partner with Endiya, Ideaspring and Rainmatter foundation on our journey to revolutionize regional air transportation. We aim to achieve cost-efficiency and sustainability through vertical integration on all the key technologies involved. This funding will enable us to build a world-class team, develop core technologies and establish a strategic roadmap for regulatory approvals and market entry," said Maruthi Amardeep Sri Vatsavaya, co-founder and CEO, BluJ.
BluJ was founded in May 2022 by CEO Maruthi Amardeep Sri Vatsavaya and Utham Kumar Dharmapuri, with a vision to make aviation simpler and sustainable through long-range vertical take-off and landing (VTOL) aircraft powered by sustainable energy sources. BluJ also claims that it aims to reduce the travel time between destinations by at least 3 times compared to the fastest alternatives today.
"Ideaspring Capital is excited to partner with Amar and Utham, Co-Founders of BluJ Aero. BluJ's vision of designing and manufacturing hydrogen fuel-cell based unmanned long range eVTOL platform has a great potential to impact cargo and passenger transport. The first aircraft with the ability to carry up to 100 Kgs of payload can revolutionize time sensitive inter and intra city logistics," says Naganand Doraswamy, managing partner, Ideaspring Capital.
