Poseidon Aerospace Raises $60 Million To Build Pilotless Cargo Planes
Moving cargo by plane is fast, but it costs a lot. That’s why most stuff goes by truck or ship. Startups have tried to fix this with electric vertical takeoff The post Poseidon Aerospace Raises $60 Million To Build Pilotless Cargo Planes appeared first on Ventureburn .
Poseidon Aerospace recently secured $60 million in funding to develop pilotless cargo planes, aiming to revolutionize air freight logistics. This Series A round was led by TQ Ventures, with additional investments from Hanwha Asset Management, G Squared, JAWS, Starship Ventures, Draper Associates, and Drover Ventures. The company's first test flight, the uncrewed cargo plane named Egret, is anticipated by late 2026.
Co-founder and CEO David Zagaynov emphasized their philosophy of building a future of aerologistics by focusing on affordability and reliability rather than cutting-edge technology like vertical takeoff and landing or hydrogen fuel. Poseidon Aerospace plans to build fixed-wing planes using conventional combustion engines, designed for regional cargo routes between 500 to 1000 miles.
Both Egret and Heron, a seaplane version, incorporate autonomy and remote piloting. The company aims to prove that cheap air cargo is a viable solution, given the high logistics costs still prevalent today. With this funding, Poseidon hopes to demonstrate the safety and commercial viability of its fully autonomous cargo plane.
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