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In a seed funding round that was jointly managed by Endiya Partners and Ideaspring Capital, the aviation company BluJ Aero received $ 2.25 million (Rs 18.45 crore). Rainmatter Foundation also took part in the round.
The business from Hyderabad will utilise the money to create its first completely commercial self-sufficient freight e-vertical take-off and landing (VTOL) vehicle. The money will also be used to build its manufacturing facilities, acquire skilled workers, and build the testing infrastructure necessary to go towards certification, as per reported by VCCircle.
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"This funding will enable us to build our team, develop core technologies and establish a strategic roadmap for regulatory approvals and market entry,” said Maruthi Amardeep Sri Vatsavaya, co-founder and chief executive officer, BluJ.
BluJ Aero is an aviation platform whose unique hydrogen-electric e-VTOL aircraft claims to be greener, more effective, and less expensive than traditional air travel. BluJ Aero was founded in 2022 by Maruthi Amardeep Sri Vatsavaya and Utham Kumar Dharmapuri. It also won a grant from the Startup India Seed Fund (SISF).
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About BluJ Aero
'Simpler & Sustainable' aviation is the goal of BluJ Aero, which was founded with this mission. They are developing cutting-edge Vertical Take-off and Landing (VTOL) technology with the goal of drastically reducing travel times for both freight and people. For their core foundation team, they are searching for individuals who are driven and aspirational.
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