Aero Technologies, Inc., recently unveiled $65 million in raised capital, $50 million in Series B funding and $15 million in convertible notes.
“I am really excited to announce Aero’s Series B raise to further ignite growth and expand into new markets. Aero's success over the last few years highlights that customers in both the U.S. and Europe have been waiting for the Aero travel experience,” Uma Subramanian, CEO of Aero, told Bussinesswire. “Aero is growing fast, and we look forward to bringing the Aero experience to new markets in the coming months.”
The transaction, valued at a total of $300 million, was co-led by European alternative investment firms, AlbaCore Capital Group. Various returning investors, such as Expa and Keyframe Capital, contributed to the investment in support of Capital One Ventures.
“Inspired by the golden age of aviation and designed for modern life, Aero is redefining semiprivate air travel,” Businesswire said.
Aero primarily serves premium leisure travelers through private terminals, offering concierge services throughout the traveler’s journey within the U.S and Europe.
The Series B funding portion will be allocated toward the development of existing routes to Aspen, Los Cabos and Sun Valley from private U.S. terminals in Los Angeles (Van Nuys) and San Francisco (SFO), as well as Ibiza, Mykonos and Nice from London’s Farnborough Airport.
“Aero has consistently delivered an unforgettable flying experience and proven to be a leader in the next chapter of premium air travel,” John Rapaport, CIO at Keyframe Capital, told Bussinesswire. “Aero has built a recognizable brand and a thoughtful jet service that customers love. We are excited to continue building upon Aero’s successes and to be by their side to develop next-level global air travel experiences.”