Electra has raised $115 million in Series B funding to advance its EL9 Ultra Short aircraft into the pre-production and certification phase.
The round was led by Prysm Capital, with Co-Founder and Managing Partner Jay Park joining Electra’s Board of Directors. Additional strategic investors include Lockheed Martin Ventures, Honeywell, Safran, Statkraft Ventures, the Virginia Innovation Partnership Corporation (VIPC), and other private backers.
The EL9 Ultra Short is designed to take off and land in just 150 feet—approximately 10% of the space needed by similarly sized conventional aircraft. The platform integrates blown lift technology with hybrid-electric propulsion, combining the landing versatility of a helicopter, the quiet operation of an electric vehicle, and the efficiency and safety of a fixed-wing, fixed-propeller aircraft.
Capable of carrying up to 3,000 pounds of payload and covering distances up to 1,100 nautical miles, the EL9 also features in-flight battery recharging, eliminating the need for ground-based charging infrastructure. Its ability to operate from grass fields, parking lots, and repurposed heliports expands regional access for both passengers and cargo.
For commercial operators, the aircraft offers a practical solution for connecting underserved communities, flying into airports with strict noise regulations, and enabling new cargo delivery models. For defense applications, it supports low-signature logistics and troop transport in remote environments, with the added benefit of mobile power capabilities.
Electra has already received over 2,200 pre-orders for the EL9, with an estimated value exceeding $10 billion. The company has also secured more than 20 Small Business Innovation Research (SBIR) contracts from the U.S. Air Force, Army, Navy, and NASA. Development continues under a Strategic Funding Increase contract with the U.S. Air Force, focused on adapting the EL9 for military operations.
Electra Board Chair John Langford commented, “We are delighted to welcome Jay and Prysm to the Electra family. They’ve already become an indispensable partner and advisor as we transition from prototype to product with the EL9.”
Marc Allen, CEO of Electra, said, “At Electra, we are on a mission to deliver a new era of aviation, a leap forward in advanced air mobility that is both transformational and practical. The EL9 Ultra Short opens the door to opportunities to establish new commercial routes, connect communities currently lacking aviation infrastructure, and enable entirely novel logistics capabilities for warfighters. We look forward to working with our partners at Prysm to continue the development of this aircraft and chart a new course for aviation.”
Jay Park, Co-Founder and Managing Partner at Prysm, added, “Electra’s EL9 Ultra Short is a game-changing aircraft that unlocks important new capabilities for commercial and defense users,” said “The EL9 is the flagship of Electra’s future family of aircraft that will transform aviation with hybrid-electric technology. We are excited to partner with Marc, John and the team in their commitment to innovating and expanding air mobility solutions.”
