Nautical Wings Aerospace, a Bengaluru-based startup focused on electric propulsion technology for the aviation industry, has raised an undisclosed amount in a pre-Series A round. funds round.
The round was led by Risk catalystsIndia’s leading integrated incubation and acceleration platform, and 1Crowd, an early-stage venture capital firm.
What does Nautical Wings Aerospace do?
Founded in 2020 by Shiv Varun Singh Rajput, Praveen T and Vikas Kamath, Nautical Wings Aerospace specializes in providing state-of-the-art, customized propulsion solutions to Original Equipment Manufacturers (OEMs) on a global scale.
The startup’s next flagship product, the Integrated Electric Propulsion Unit (iEPU), is a cutting-edge turnkey solution designed to simplify adoption by drone manufacturers and air mobility companies.
The iEPU features a plug-and-play design for seamless integration into various aircraft, meeting the specific needs of each customer.
The startup said the versatile system simplifies adoption by drone manufacturers and air mobility companies, streamlining development and accelerating time to market.
“At Nautical Wings Aerospace, we are committed to developing pioneering propulsion technologies that will revolutionize the future of flight. Our vision is to lead the next generation of aviation innovation, making electric aviation more efficient, sustainable and accessible to all,” said Shiv Varun Singh Rajput.
Purpose of fundraising
According to Varun, the capital raised will be used to accelerate research and development (R&D) efforts, expand the engineering team and scale operations to meet the growing global demand for electric propulsion solutions in aviation.
“Nautical Wings Aerospace represents the future of aviation propulsion. Its innovative approach to electric propulsion technology aligns perfectly with the global shift towards sustainable transportation,” said Dr. Apoorva Ranjan Sharma, Co-Founder and CEO of Venture Catalysts++.
“We believe their iEPU solution has the potential to accelerate the adoption of electric propulsion in drones and eVTOL aircraft, contributing significantly to the projected $20.3 billion electric aircraft propulsion market growth by 2030. This investment underscores our commitment to supporting innovative technologies that have the power to transform industries and create a more sustainable future,” Sharma added.
The startup said the electric aircraft propulsion market is anticipated to grow at a CAGR of 15.3% from $6.5 billion in 2022 to $20.3 billion in 2030, presenting a significant opportunity for its growth.
“As the world increasingly focuses on solutions that are sustainable and scalable, it is imperative that we foster innovation in technologies for the future. Nautical Wings’ endeavour to develop sustainable aviation powered by its advanced propulsion systems is truly commendable and is heading in the right direction,” said Kalpana Sindhu, Partner at 1Crowd.
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