Nautical Wings Aerospace, an Bengaluru-based an aviation technology company, has raised an undisclosed amount in its pre-Series A round. The round was led by Venture Catalysts, an integrated incubator and accelerator platform, and 1Crowd, an early-stage VC firm.
The raised 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.
The iEPU features a plug-and-play design for seamless integration across various aircraft, catering to specific client needs and streamlining the development process for drone and air mobility manufacturers, accelerating their time-to-market.
The electric aircraft propulsion market is projected to grow significantly, with a CAGR of 15.3%, expanding from $6.5 billion in 2022 to $20.3 billion by 2030, offering substantial opportunities for Nautical Wings Aerospace.
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.”
“At Nautical Wings Aerospace, we are committed to pioneering propulsion technologies that will revolutionize the future of flight. Our vision is to lead the next generation of aerial innovation, making electric aviation more efficient, sustainable, and accessible for all,” said Shiv Varun Singh Rajput.
“Nautical Wings Aerospace represents the future of aviation propulsion. Their innovative approach to electric propulsion technology aligns perfectly with the global shift towards sustainable transportation,” said Dr. Apoorva Ranjan Sharma, Co-Founder and Managing Director of Venture Catalysts++.
“We believe their iEPU solution has the potential to accelerate the adoption of electric propulsion in drones and eVTOL aircraft, contributing significantly to the growth of the $20.3 billion electric aircraft propulsion market projected by 2030. This investment underscores our commitment to supporting groundbreaking technologies that have the power to transform industries and create a more sustainable future,” Sharma added.
“As the world increasingly focuses on solutions that are both sustainable and scalable, it is imperative that we encourage innovation in technologies for the future. Nautical Wings’ endeavour to develop sustainable aviation powered by their advanced propulsion systems is truly commendable and in the right direction,” said Kalpana Sindhu, Partner, 1Crowd.
