Boom Supersonic Raises $33 Million in Series A Funding to Build History’s Fastest Civil Airplane
Boom’s new financing will fund XB-1 development and flight test, a key milestone on the path to mainstream supersonic travel.
Denver, Colo. – March 22, 2017 – Boom Supersonic, the supersonic aircraft company, today announced its $33 million Series A round. Participants in the syndicate funding round include 8VC, Caffeinated Capital, Palm Drive Ventures, RRE Ventures, and Y Combinator's Continuity Fund. The Series A brings Boom’s total funding to $41 million.
“Our mission is to make supersonic flight a reality,” said Blake Scholl, chief executive officer and founder of Boom. “With this new capital, we are closer than ever to the first flight of our XB-1 supersonic demonstrator.” Boom will use the new financing to finish XB-1’s development and fabrication and conduct a thorough flight test program.
“When I first met with Boom, I was fascinated by their plans to revive supersonic flight, making the world more accessible for millions of people,” said Sam Altman, President of Y Combinator. “Since then, Boom has formed partnerships with aviation industry leading manufacturers and made rapid progress in the development of the demonstrator – I am excited to be part of the coming supersonic renaissance.” As a one-third scale demonstrator for Boom’s supersonic airliner, Overture, XB-1 will demonstrate in flight the key technologies enabling affordable supersonic travel, including aerodynamics, materials, and high-efficiency supersonic intakes.
Since the unveiling of the XB-1 demonstrator in November 2016, the Boom team has been engaged in extensive wind tunnel tests at the Walter H. Beech Wind Tunnel at Wichita State University’s National Institute for Aviation Research. The Boom team is also developing hardware for the plane’s first flight with support from partners at Honeywell, Tencate, and Blue Force.