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Venture Catalysts and 1Crowd back Nautical Wings Aerospace

Entrackr · 2m

Nautical Wings Aerospace, an electric propulsion technology for the aviation industry, has raised its pre-Series A round from Venture Catalysts and 1Crowd for an undisclosed amount. The proceeds will be used to ramp up its R&D efforts, expand the team of expert engineers, and help scale its operations to meet the growing global demand for electric propulsion solutions in aviation. Founded in 2020 by Shiv Varun Singh Rajput, Praveen T, and Vikas Kamath, Nautical Wings Aerospace develops tailored propulsion solutions for OEMs on a global scale. Its upcoming flagship product, the Integrated Electric Propulsion Unit (iEPU), is a turnkey solution designed to simplify adoption for drone manufacturers and air mobility companies. The company’s B2B model, providing enterprise hardware technology to aircraft OEMs, According to market research, the electric aircraft propulsion market is anticipated to grow at a CAGR of 15.3% from $6.5 billion in 2022 to $20.3 billion by 2030, presenting a significant opportunity for Nautical Wings Aerospace. The iEPU being developed by Nautical Wings Aerospace features a plug-and-play design for easy integration across various aircraft, catering to the specific needs of each client. This versatile system simplifies adoption for drone manufacturers and air mobility companies, streamlining development and speeding up time-to-market.