Nautical Wings Aerospace, a pioneering electric propulsion technology company in the aviation industry, has successfully raised its pre-Series A round of funding from Venture Catalysts and 1Crowd for an undisclosed amount. The new capital will be used to boost its research and development (R&D) initiatives, expand its team of expert engineers, and scale operations to meet the rising global demand for electric propulsion solutions in aviation.
Founded in 2020 by Shiv Varun Singh Rajput, Praveen T, and Vikas Kamath, Nautical Wings Aerospace specializes in developing customized propulsion solutions for Original Equipment Manufacturers (OEMs) worldwide. The company’s flagship product, the Integrated Electric Propulsion Unit (iEPU), is a turnkey solution designed to ease the adoption of electric propulsion technology for drone manufacturers and air mobility companies. Its B2B model focuses on delivering enterprise-grade hardware technology to aircraft OEMs.
Praveen T, Co-Founder and CTO, added, “The Integrated Electric Propulsion Unit (iEPU) we are developing will provide drone manufacturers and air mobility companies with a simplified, plug-and-play solution, tailored to their specific needs. This versatility will help speed up time-to-market for our clients and further drive innovation in the aviation sector.”
Nautical Wings Aerospace is entering a market that shows significant growth potential. According to industry research, the electric aircraft propulsion market is projected to grow at a CAGR of 15.3%, expanding from $6.5 billion in 2022 to $20.3 billion by 2030. This presents a promising opportunity for the company to capture a substantial share of the burgeoning electric aviation market.
The iEPU, Nautical Wings’ upcoming product, is designed with a plug-and-play architecture that enables easy integration across different types of aircraft. By addressing the specific needs of OEM clients, the system is expected to streamline development processes and enhance the adoption of electric propulsion technology in various applications.