Aerospace startup closes pre-seed funding with $800K
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West Lafayette-based aerospace startup Aerovy has completed its pre-seed funding round, banking $800,000 from Purdue Innovates, M25 and the Flywheel Fund.
Aerovy, which was founded at Purdue University, is creating infrastructure for airports and airlines to prepare for and manage electric aviation. It is building cloud-based software for the advanced air mobility sector.
CEO Nick Gunady says the startup’s cloud-based software works with fleet operators at airports and infrastructure partners to help them create plans that could reduce their reliance on the grid.
The company said it plans to complete a round of seed funding next year.
“The closing of the pre-seed round represents a critical milestone in our missions to unlock the energy equation for AAM and airport electrification,” Gunady said in a news release. “This will allow us to deploy to our customers and partners worldwide.”
Aerovy has won about $140,000 total in the Purdue Innovates Incubator’s New Venture Challenge pitch competition and the Purdue Innovates Startup Foundry’s biannual Black and Gold Awards pitch competition earlier this year.
The company has also announced expanded partnerships with battery container technology provider Electro Base, Utah-based automation software company Altaport, and Japan-based vertiport infrastructure developer SkyScape, among others.
In a May interview with Inside INdiana Business, Gunady said the company has ambitious plans for 2024, including deployments in California, Europe, the Middle East, and Asia, which are being fueled by the funding raised in the pre-seed round.