Nautical Wings Aerospace, a Bengaluru-based startup specializing in electric propulsion technology for aviation, has raised an undisclosed amount in a pre-Series A funding round. This round was led by Venture Catalysts, a prominent incubator and accelerator platform in India, and 1Crowd, an early-stage venture capital firm.
What Does Nautical Wings Aerospace Do?
Nautical Wings Aerospace founded in 2020 by Shiv Varun Singh Rajput, Praveen T, and Vikas Kamath, Nautical Wings Aerospace focuses on delivering advanced electric propulsion solutions for aircraft manufacturers worldwide. The startup’s flagship product, the Integrated Electric Propulsion Unit (iEPU), is a turnkey solution that simplifies the adoption of electric propulsion technology for drone manufacturers and air mobility companies. With its plug-and-play design, the iEPU can be easily integrated into various aircraft, allowing for faster development and shorter time-to-market.
Purpose of the Funding
The startup plans to use the newly raised funds to accelerate research and development (R&D) efforts, expand its engineering team, and scale operations to meet the growing global demand for electric propulsion solutions. “Our goal is to lead the next generation of aerial innovation, making electric aviation more efficient and sustainable,” said Shiv Varun Singh Rajput, Co-Founder of Nautical Wings Aerospace.
Electric Aircraft Propulsion Market Growth
According to industry forecasts, the electric aircraft propulsion market is expected to grow from $6.5 billion in 2022 to $20.3 billion by 2030, representing a CAGR of 15.3%. Venture Catalysts and 1Crowd see this as a significant opportunity for the startup. “Nautical Wings Aerospace is poised to revolutionize the aviation industry with their innovative electric propulsion technology,” said Dr. Apoorva Ranjan Sharma, Co-Founder and Managing Director of Venture Catalysts.
Focus on Sustainable Aviation
With the global shift towards sustainable transportation, Nautical Wings Aerospace is at the forefront of innovation in electric propulsion technology. “Their efforts in developing sustainable aviation solutions are commendable and timely, considering the world’s focus on greener technologies,” said Kalpana Sindhu, Partner at 1Crowd.
