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Boom Supersonic Raises $33 Million in Series A Funding

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Boom Supersonic Raises $33 Million in Series A Funding

Boom Supersonic Raises $33 Million in Series A Funding
March 24
09:29 2017

MIAMI — Yesterday, Boom Supersonic announced its $33 million Series A round. The company wants to make the world’s civil’s fastest airplane in history.

Participants in the syndicate funding round include 8VC, Caffeinated Capital, Palm Drive Ventures, RRE Ventures, and Y Combinator’s Continuity Fund.

This could be the realization of Boom Supersonics’ real objective. “Our mission is to make supersonic flight a reality,” said Blake Scholl, chief executive officer and founder of Boom.

High Flyer Interview: Blake Scholl, CEO, Boom Technology

“With this new capital, we are closer than ever to the first flight of our XB-1 Supersonic Demonstrator in about a year.”

The Supersonic aircraft company will have a total funding of $41 million with the Series A. Boom will use the new financing to finish development and fabrication of the XB-1 demonstrator, and conduct a flight test program including sonic boom testing.

Also, it is good to know that Y Combinator President Sam Altman and entrepreneur/investor Greg McAdoo have joined Boom’s board of directors.

“When I first met with Boom, I was fascinated by their plans to revive supersonic flight, making the world more accessible for millions of people,” said Sam Altman, President of Y Combinator. “Since then, Boom has formed partnerships with aviation industry leading manufacturers and made rapid progress in the development of the demonstrator –  I am excited to be part of the coming supersonic renaissance.”

The new funding round will support the development, fabrication and flight testing of the XB-1 Supersonic Demonstrator, as well as a ⅓-scale prototype of the Boom’s supersonic passenger airliner.

With the XB-1, the Denver-based carrier searches a demonstration in flight the key technologies enabling affordable supersonic travel cruising at Mach 2.2 (1,451mph).

The Boom airliner will be the fastest civil airplane ever made and the first independently-developed supersonic jet. The funds will also be used for sonic boom testing, allowing the company to research and assess sonic booms at various altitudes and flight conditions.

Since the unveiling of the XB-1 demonstrator in November 2016, the airframer team has been testing at the Walter H. Beech Wind Tunnel at Wichita State University’s National Institute for Aviation Research.

The Boom team is also developing hardware for the plane’s first flight with support from partners at Honeywell, Tencate, and Blue Force, in addition to expanding its list of international carrier partners that have pre-ordered the plane.

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Alvaro Sanchez

Alvaro Sanchez

Online Executive Editor. Journalist and Certified Radio Host. Studying for a Specialization in Public Opinion and Political Communications. Even though I love politics I've found myself fascinated by the Aviation World. I'm also passionate by economy, strategic communications, my family, my country, and dogs. mc@airwaysmag.com

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