Wave Engine Corporation, a Baltimore, MD-based supplier of propulsion methods and aerial automobiles, raised $3.5m in second Seed funding.
The spherical was led by Gula Tech Adventures with participation from Kevin Mahaffey, Abell Basis, Maryland Momentum Fund, and Asymmetry Ventures.
The corporate intends to make use of the funds to speed up progress and increase operations.
Led by CEO Daanish Maqbool, Wave Engine Company is a targeted group of scientists, engineers and former Fortune 500 executives leveraging technological developments in propulsion, acoustics, and combustion management to develop plane and propulsion methods. Its know-how allows important discount in the associated fee and complexity of jet propulsion, making it sensible for all kinds of aviation platforms for which jet propulsion was beforehand cost-prohibitive.
The corporate additionally introduced its new 7,500 sq. ft. facility in Baltimore metropolis to accommodate plans for future progress centered round continued improvement and manufacturing of engines and plane.
Wave beforehand raised $1.45m in a seed spherical of funding in 2018. This was adopted by a $2.85m funding by DARPA in 2019 and profitable flight demonstrations in 2020. In 2021, Wave Engine Corp. introduced a $1m contract with the USAF Armament Directorate to construct and display an air-launched automobile as a part of the USAF’s efforts to develop high-impact applied sciences important to the way forward for aviation and aerial fight.