eVTOL startup AIR lands $23M to accelerate U.S. expansion and aircraft deliveries

AIR, the Israeli eVTOL startup building aircraft for cargo, defense, and personal flight, just raised $23 million in Series A funding. The round was led by Entrée Capital, with participation from Dr. Shmuel Harlap—an early investor in Mobileye and a longtime backer of AIR since its founding.

The new capital will help AIR ramp up production of its electric vertical takeoff and landing aircraft and deliver on a growing list of purchase orders. The company is also scaling its U.S. operations as the demand for next-gen air mobility picks up, partly fueled by a recent U.S. Executive Order supporting eVTOL development and FAA rule changes allowing light sport aircraft certification for models like AIR ONE.

With $23M Funding, AIR to Lead the Next Era of Personal and Autonomous Air Mobility

AIR already completed its first logistics aircraft deliveries in 2023 and has been running full-scale flight tests, including uncrewed, beyond visual line of sight (BVLOS) operations. With a U.S.-based center now in place and active collaboration with the U.S. Air Force’s Agility Prime program, AIR is positioning itself to be among the first to bring real commercial and defense-grade eVTOL aircraft to market.

CEO and co-founder Rani Plaut said the funding “solidifies AIR’s path forward,” adding that the team has managed to generate significant revenue in the eVTOL space with lean operations. “We have no doubt that with Entrée Capital’s backing and knowledge, we will be able to deliver our advanced air mobility solutions to the market even faster than before.”

AIR Founders

AIR’s two flagship models share a unified design: a piloted, two-seat aircraft for personal use, and an autonomous cargo aircraft aimed at logistics, defense, and emergency response. Both feature a folding wing mechanism that allows them to be stored in a standard car-sized parking space. The cargo version has a 550-pound payload capacity and 70 cubic feet of space, built for missions like remote deliveries and disaster zone access. With a top speed of 120 knots and 100-mile range, it’s built to slot into existing logistics workflows without a lot of extra friction.

The personal version, AIR ONE, already has more than 2,500 pre-orders. It’s designed to offer a safer, quieter, and more compact flying experience for general aviation users—without needing a runway.

Avi Eyal, Managing Partner at Entrée Capital, called AIR’s platform “an engineering marvel” and said the team is years ahead of competitors in actually delivering a product. “We led the investment in AIR given our belief in its vision and it being the only OEM in its category that is delivering a real product today.”

AIR has 15 uncrewed cargo aircraft set for delivery over the next year, and the company’s expansion plans now include growing its team and moving toward full FAA certification. While much of the eVTOL space is still stuck in prototyping or simulation, AIR is already flying—and selling.

That’s a rare position in an industry packed with promises.