Boom Technology has received new funding to complete the development of its XB-1 supersonic jet prototype for commercial operations.
Under the new Series A round of funding, Boom has raised $33m from 8VC, Caffeinated Capital, Palm Drive Ventures, RRE Ventures and Y Combinator’s Continuity Fund, as well as various angel investors.
The latest round has increased the company’s total funding to $41m, which is enough to finish the development of XB-1 supersonic demonstrator.
The funding will also enable Boom to implement the prototype’s flight test programme.
With the completion of the latest round of investment, Y Combinator president Sam Altman and investor/entrepreneur Greg McAdoo will also be joining Boom’s board of directors.
Boom Technology CEO and founder Blake Scholl said in a blog: “The best way to grok the supersonic future is to look back at what happened the last time we had a big speedup, back to the dawn of the jet age in the late 1950s and early 1960s.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“Prior to the jet age, flights from the US West Coast to Hawaii stretched 15h-16h. Consequently, few went, and ‘Hawaii vacation’ wasn’t really a thing.
“Jets meant Hawaii was 5h-6h away instead of 15h-16h. In the first ten years, travel to Hawaii went up six-fold. Resorts and golf courses were built.”
Scholl further added that the supersonic flights would provide the same benefits as the existing flights, but with shorter duration.
Image: XB-1 aircraft concept. Photo: courtesy of Boom Technology.
