Munich-based aviation startup VÆRIDION has raised €14 million in a Series A funding round to accelerate the development of its innovative electric aircraft, the Microliner.
Led by World Fund, a prominent climate-focused venture capital firm, the round saw participation from Project A Ventures, Vsquared Ventures, Andreas Kupke, Schwarz Holding, and InnovationQuarter.
Co-founder and CEO Ivor van Dartel commented: “Our new funding will significantly accelerate development efforts, paving the way for certification-conforming prototype flights to take off in 2027, followed by a first commercial flight by 2030. With the Microliner, we are addressing both the need for zero-emission travel alternatives and the demand for enhanced regional connectivity. Our partnerships and market-focused strategy reflect our commitment to not only decarbonising short-haul flights across Europe but also to setting a new standard for sustainable and energy efficient aviation at a competitive price point.”
Founded in 2021 by former Airbus managers Ivor van Dartel and Dr Sebastian Seemann, the company’s mission is to revolutionise short-haul air travel with a sustainable, zero-emission solution.
VÆRIDION’s Microliner, designed to accommodate up to nine passengers, is an innovative entry in the electric Conventional Take-Off and Landing (eCTOL) aircraft market. The aircraft boasts a nominal range of 400 km, advanced battery-wing integration, and a multi-engine single-propeller configuration, ensuring efficiency and safety.
Initial functional and validation tests have been completed, with certification-conforming prototype flights set for 2027 and commercial operations targeted for 2030.
Aviation demand is expected to more than double to over 8 billion passengers by 2040, growing at an annual average rate of 3.4%. This is putting pressure on the global airline industry to provide solutions to decarbonise the sector.
VÆRIDION is betting on the regional air mobility (RAM) market to expand as European countries look to reach sustainability targets, decrease development costs, and ease congested roads. Especially with predictions that the global addressable market for regional flights could reach €109 billion by 2035, representing up to 700 million passengers annually.
The startup has already achieved a significant milestone, becoming the first General Aviation manufacturer to secure a Pre-Application Contract (PAC) with the European Union Aviation Safety Agency (EASA). This achievement confirms the Microliner’s compliance with commercial passenger aircraft certification standards and positions VÆRIDION ahead of competitors in the race to decarbonise regional aviation.
The fresh funding, supplemented by research grants from Bavarian and German administrations, will enable VÆRIDION to expand its team, accelerate product development, and deepen its commercial footprint.
The company has already secured initial customers in Denmark, the Benelux region, and Germany, with its aircraft aimed at connecting decentralised regions and underserved markets.
Potential applications also include air ambulance services, a project being explored in partnership with Aero-Dienst.
Daria Saharova, General Partner at World Fund, said: “Aviation demand is expected to more than double by 2040, so we urgently need to decarbonise this sector. VÆRIDION has unique technology, a world-class team, and the support to power the future of aviation. Ivor, Sebastian, and their team have already proven market appetite for their market-leading product, and we are thrilled to be supporting them as they scale to deliver zero-emission flights for customers across Europe.”
The Microliner is set to begin by serving business passengers, with plans to expand into consumer travel as the market develops. The aircraft’s low noise levels and operational efficiency make it well-suited for smaller airfields, which could significantly enhance accessibility across Europe.
With aviation demand poised to double by 2040, solutions like VÆRIDION’s Microliner could play a pivotal role in meeting sustainability targets while maintaining connectivity.
Read the orginal article: https://www.eu-startups.com/2024/12/aviation-startup-vaeridion-takes-off-with-e14-million-in-funding-to-decarbonise-short-haul-flights/
