USA. Wisk, developer of the first all-electric, self-flying air taxi in the US, has received US$450 million in new funding from The Boeing Company.
This investment will further advance the development of Wisk’s sixth generation electric vertical take-off and landing (eVTOL) aircraft, which is the first-ever candidate for certification of an autonomous, all-electric, passenger-carrying aircraft in the US.
In addition, the funding will support the company as it enters what it describes as “an intensive growth phase” over the next year, as it prepares for the launch of scale manufacturing, and go-to-market efforts.
Boeing first invested an undisclosed amount in San Francisco and New Zealand-based Wisk in 2019, as part of a joint venture with the Kitty Hawk Corporation. The latter remains an investor and has supported the development of Wisk’s previous generations of aircraft.
“We are incredibly fortunate to have Boeing as not only an investor but a strategic partner, which provides us with access to a breadth of resources, industry-leading expertise, a global reach, extensive certification experience, and more” – Wisk CEO Gary Gysin
In announcing the fresh investment, Wisk – founded in 2010 as Zee Aero – stated its aim that within five years following the certification of its sixth generation aircraft, it intends to operate one of the industry’s largest fleets of advanced air mobility (AAM) eVTOL aircraft.
The company said the scale of this fleet will be enabled by its autonomous technology, a competitive differentiator and industry-recognised key to scaling services and maximising safety.
In this timeframe, Wisk anticipates close to 14 million annual flights bringing time savings to over 40 million people across 20 cities – all with zero emissions.
Wisk CEO Gary Gysin said: “Wisk is extremely well-positioned to deliver on our long-term strategy and commitment to safe, everyday flight for everyone.
“We are incredibly fortunate to have Boeing as not only an investor but a strategic partner, which provides us with access to a breadth of resources, industry-leading expertise, a global reach, extensive certification experience, and more.”
He added: “As we enter this next stage of our growth, this additional funding provides us with capital while allowing us to remain focused on our core business and our number one priority, safety.”
Boeing Chief Strategy Officer Marc Allen said: “With this investment, we are reconfirming our belief in Wisk’s business and the importance of their work in pioneering all-electric, AI-driven, autonomous capability for the aerospace industry.
“Autonomy is the key to unlocking scale across all AAM applications, from passenger to cargo and beyond. That’s why straight-to-autonomy is a core first principle. Boeing and Wisk have been at the forefront of AAM innovation for more than a decade and will continue to lead in the years ahead.”
Note: The Moodie Davitt Report is set to launch a newsletter dedicated to urban air mobility, one of the most exciting and high-potential elements of the modern global aviation sector. You can read about our move into the subject in this story here.
To subscribe to the free of charge digital newsletter, please email Kristyn@moodiedavittreport.com. To submit stories or to enquire about sponsorship opportunities, please email mark@moodiedavittreport.com.
