Boom Supersonic, the Denver-based company attempting to make transoceanic supersonic commercial air travel a reality, has recently closed $100 million in Series B funding.
Boom Supersonic Aims to Make Transoceanic Air Travel Faster
Founded in 2014, Boom Supersonic aims to manufacture supersonic commercial passengers jets capable of seating up to 55 business-class passengers on transoceanic flights. At mach 2.2 (1,688 MPH) the company hopes to greatly reduce air travel times on routes such as NYC to London. Currently such a flights take roughly 7 hours, but on Boom’s new jet, the trip would take a little more than 3 hours.
Big Name Investors Are Interested
According to TechCrunch, the Series B round of funding was led by Emerson Capital and also saw participation from The Y-Combinator Continuity Fund, Caffeinated Capital, and SV Angel, as well as participation from earlier investors of Google, AirBNB, Stripe, and Dropbox. The new investment brings the total amount raised by Boom Supersonic to over $141 million.
Not All Smooth Sailing
The company faces an uphill battle however, as development costs alone for such aerospace initiatives can easily run into the tens of billions of dollars. Add to this the fact that aerospace giant Boeing announced in June of last year its own plans to develop a mach-5 passenger plane, and it’s easy to see why Boom Supersonic now has an uphill battle. Nonetheless, investors and staff remain optimistic.
Some Encouraging Signs
According to Boom Supersonic CEO Blake Scholl, ‘The vision here is to make supersonic travel mainstream. We want to build an aircraft that will change the lives of as many people as possible.’ To date, there have been signs of encouragement from other big players in air travel as well. Recently, Japan Airlines invested $10 million into Boom Supersonic with an option to buy 20 planes, and Richard Branson’s Virgin Atlantic picked up an option to buy another 10.
Whether or not Boom Supersonic will be the dominate company in supersonic air travel remains unknown, but what is known is that several large players in both tech and aerospace are betting on them.