Total amount raised
$407.5 Millions
Latest funding date
12/1/2024
Location
Boom Supersonic has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The company is dedicated to developing supersonic passenger airplanes, aiming to revolutionize air travel.
Keep reading to explore the intricacies of Boom Supersonic's fundraising journey and the investors backing this innovative venture.
What Is Boom Supersonic?
Boom Supersonic, founded in September 2014, is a commercial airplane manufacturer based in Centennial, Colorado. The company is dedicated to developing supersonic airliners designed for speed, safety, and sustainability.
Founded by Blake Scholl, Joe Wilding, and Joshua Krall, Boom Supersonic aims to revolutionize air travel by significantly reducing flight times. Their key projects include the Overture airliner, Symphony engine, and XB-1 demonstrator aircraft.
With a team of 101-250 employees, Boom Supersonic is making strides in the aviation industry, working towards making supersonic passenger travel a reality and affordable for business travel.
How Much Funding Has Boom Supersonic Raised?
- Series A
- Amount Raised: $100M
- Date: December 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fully fund the initial prototype of Boom's bespoke aircraft engine, Symphony.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: October 2023
- Lead Investors: NEOM Investment Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance the development of supersonic passenger jets.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: March 2023
- Lead Investors: Momentum Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing research and development efforts.
- Series C
- Amount Raised: Not publicly disclosed
- Date: June 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up production capabilities.
- Grant
- Amount Raised: $60M
- Date: January 2022
- Lead Investors: United States Air Force
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund research and development for military applications.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: December 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To manage operational expenses and cash flow.
- Venture Round
- Amount Raised: $45M
- Date: June 2021
- Lead Investors: Prime Movers Lab
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the development of the Overture airliner.
- Series C
- Amount Raised: Not publicly disclosed
- Date: March 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the engineering team and facilities.
- Series C
- Amount Raised: $50M
- Date: December 2020
- Lead Investors: Celesta Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund the final stages of the XB-1 demonstrator aircraft.
- Venture Round
- Amount Raised: $3.1M
- Date: April 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development and testing.
Total Amount Raised: $258.1M. Current Valuation: Not publicly disclosed.
Key Investors
- NEOM Investment Fund
- Details: NEOM Investment Fund is a Saudi Arabian government-backed fund focused on developing the futuristic city of NEOM.
- Investment Focus Areas: Technology, infrastructure, renewable energy.
- Notable Investments: Not publicly disclosed.
- Momentum Ventures
- Details: Momentum Ventures is a venture capital firm that invests in early-stage technology companies.
- Investment Focus Areas: Technology, software, digital media.
- Notable Investments: Not publicly disclosed.
- United States Air Force
- Details: The United States Air Force is a branch of the U.S. Armed Forces responsible for aerial and space warfare.
- Investment Focus Areas: Defense, aerospace, technology.
- Notable Investments: Not publicly disclosed.
- Prime Movers Lab
- Details: Prime Movers Lab is a venture capital firm that invests in breakthrough scientific startups.
- Investment Focus Areas: Energy, transportation, infrastructure.
- Notable Investments: Not publicly disclosed.
- Celesta Capital
- Details: Celesta Capital is a venture capital firm that focuses on investing in technology and innovation-driven companies.
- Investment Focus Areas: Technology, healthcare, artificial intelligence.
- Notable Investments: Not publicly disclosed.
What's Next for Boom Supersonic?
Boom Supersonic is poised to capitalize on the growing interest in supersonic travel, with significant opportunities on the horizon. The company plans to build a new assembly plant in North Carolina, which promises to create over 1,700 jobs and attract substantial investment. This move is expected to bolster their efforts in developing the Overture airliner and the Symphony engine, potentially reintroducing supersonic passenger flights.
Future fundraising efforts will likely be crucial as Boom continues to advance its technology and expand its operations. The company has already secured $100 million in a recent funding round, and additional investments may be necessary to meet their ambitious goals. However, challenges such as securing reliable engine manufacturing partners and navigating regulatory hurdles remain significant obstacles. Despite these challenges, Boom Supersonic's progress and strategic partnerships position them well for future growth and success in the aviation industry.
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