VerdeGo Aero’s A-1 investment round beats $4m target
VerdeGo Aero has closed its A-1 investment round, exceeding the target of $4m it set for continued development of its hybrid-electric propulsion technologies.
The new funding will accelerate progress of VerdeGo’s VH-4T 400 kW hybrid-electric powerplant made for high-performance electrified aircraft and drones. Full-scale prototype testing of the VH-4T is currently underway at the firm’s technical centre in Daytona Beach, Florida. Alongside VerdeGo’s VH-3 powerplant, the VH-4T was on display at the recent Farnborough and Oshkosh airshows.
“We are excited to have closed this round on schedule, with a very attractive valuation, and in a difficult investment market; which speaks to the quality of VerdeGo Aero’s business model and team,” said Eric Bartsch, CEO of VerdeGo Aero.
The Florida Opportunity Fund came in as a new investor in this tranche. Alongside the fund, six of VerdeGo Aero’s Series A investors returned to increase their stake including: RTX Ventures, DiamondStream Partners and Cloudbreak VC.
VerdeGo Aero was also featured at the Florida Venture Capital Conference (FVCC) in both Miami and Orlando in 2024, resulting in new investor relationships for both the current round as well as the upcoming Series B planned for mid-2025. Given the demand for the A-1, round size has been increased above the target level to allow for additional new investors over the next two months.
Dave Spitzer, vice president of product development said: “In 2023, we received strong signals that a higher power, higher performance hybrid system was needed, resulting in the VH-4T program. Now we have the ability to continue to mature that product line to address strong demand from both military and commercial customers.”
VerdeGo Aero’s growth will align with a mid-2025 Series B round to ramp up early production and provide a pathway to FAA certification for VH-4T and its sister products under development.
“The markets are ready for our products, and with a growing order book, investors will appreciate the growth they will see in VerdeGo in both the near- and long-term,” added David Eichstedt, vice president of product management.
