Total amount raised
$216 Millions
Latest funding date
7/1/2024
Location
Hermeus has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The company is focused on developing hypersonic aircraft to revolutionize global transportation.
Keep reading to explore the intricacies of Hermeus' fundraising journey and the investors backing this innovative aerospace venture.
What Is Hermeus?
Hermeus, founded in November 2018, is an aerospace and defense technology company headquartered in Atlanta, Georgia. The company is dedicated to developing hypersonic aircraft capable of Mach 5 speeds, aiming to revolutionize global transportation.
Hermeus was founded by AJ Piplica, Glenn Case, Michael Smayda, and Skyler Shuford. Their innovative approach combines hardware-rich, iterative development with modern computing and autonomy to create cost-effective hypersonic solutions.
With a team of 101-250 employees, Hermeus is working on several projects, including the Quarterhorse, Darkhorse, and Halcyon aircraft, as well as the Chimera II engine.
How Much Funding Has Hermeus Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: May 2019
- Lead Investors: Khosla Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of hypersonic aircraft technology.
- Series A
- Amount Raised: $16M
- Date: October 2020
- Lead Investors: Canaan Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate the development of the Chimera engine.
- Non-Equity Assistance
- Amount Raised: Not publicly disclosed
- Date: March 2021
- Lead Investors: NASA
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To collaborate on research and development for hypersonic technology.
- Grant
- Amount Raised: $60M
- Date: August 2021
- Lead Investors: United States Air Force
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the development and testing of the Quarterhorse aircraft.
- Series B
- Amount Raised: $100M
- Date: March 2022
- Lead Investors: Sam Altman
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To complete the development of the Quarterhorse and begin flight services operations.
- Series B
- Amount Raised: $40M
- Date: July 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further advance the development of hypersonic aircraft technology.
Hermeus has raised a total of $216M. The current valuation is not publicly disclosed.
Key Investors
- Sam Altman
- Details: Sam Altman is a prominent entrepreneur and investor, known for his role as the former president of Y Combinator and CEO of OpenAI.
- Investment Focus Areas: Technology, artificial intelligence, innovative startups.
- Notable Investments: OpenAI, Reddit, Stripe.
- Founders Fund
- Details: Founders Fund is a venture capital firm that invests in companies building revolutionary technologies. It was co-founded by Peter Thiel.
- Investment Focus Areas: Aerospace, healthcare, software.
- Notable Investments: SpaceX, Palantir Technologies, Airbnb.
- In-Q-Tel
- Details: In-Q-Tel is the strategic investor for U.S. Intelligence agencies and its allies, focusing on high-tech innovations.
- Investment Focus Areas: National security, intelligence technologies.
- Notable Investments: Keyhole (acquired by Google to become Google Earth), Palantir Technologies.
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm that focuses on impactful technology investments, founded by Vinod Khosla.
- Investment Focus Areas: Healthcare, sustainability, artificial intelligence.
- Notable Investments: Square, DoorDash, Impossible Foods.
- Canaan Partners
- Details: Canaan Partners is a venture capital firm that invests in early-stage technology and healthcare companies.
- Investment Focus Areas: Technology, healthcare.
- Notable Investments: LendingClub, Ebates, Match.com.
What's Next for Hermeus?
Hermeus stands on the brink of revolutionizing air travel with its hypersonic aircraft, promising to cut transatlantic flight times to just 90 minutes. The potential market for such technology is vast, with opportunities to secure lucrative government contracts and attract significant private investment. The company’s partnerships with the U.S. Air Force and NASA underscore the strategic importance and immense growth potential of their innovations.
As Hermeus progresses, future fundraising rounds will be crucial to support the high costs of development and certification. However, the path ahead is fraught with challenges, including technical hurdles, regulatory approvals, and intense competition. Navigating these obstacles will be key to realizing their vision of transforming global transportation.
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