Nautical Wings Aerospace, a company that specializes in electric propulsion technology for the aviation sector, has secured an undisclosed sum of funding from Venture Catalysts and 1Crowd in its pre-Series A round.
The proceeds will be allocated to the expansion of the team of expert engineers, the acceleration of its research and development initiatives, and the expansion of its operations to accommodate the increasing global demand for electric propulsion solutions in aviation.
Nautical Wings Aerospace provides OEMs with customized propulsion solutions on a global scale. The Integrated Electric Propulsion Unit (iEPU), the company’s forthcoming flagship product, is a turnkey solution that is intended to facilitate the adoption process for air mobility companies and drone manufacturers. The company’s business-to-business model involves the provision of enterprise hardware technology to aircraft OEMs.
Nautical Wings Aerospace is presented with a substantial opportunity as the electric aircraft propulsion market is expected to expand at a compound annual growth rate (CAGR) of 15.3% from $6.5 billion in 2022 to $20.3 billion by 2030.
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The iEPU, which is currently under development by Nautical Wings Aerospace, is designed with a plug-and-play architecture that enables seamless integration into a variety of aircraft, thereby meeting the unique requirements of each client. This adaptable system facilitates the adoption process for air mobility companies and drone manufacturers, thereby expediting the time-to-market and streamlining development.
About Nautical Wings Aerospace
Founded in 2020 by Shiv Varun, Nautical Wings Aerospace is an aviation technology company based in Bengaluru, India.
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