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Cosmic Aerospace, a United States-European aerospace startup, has raised $4.5 million in seed financing to accelerate the development of what it says would be the world’s first electric aircraft capable of flying more than 600 miles.
Instead of relying on future battery improvements, Cosmic is focusing its engineering efforts on the development of an airframe and propulsion system. The company has already built and tested a full-scale operational electric engine.
The new funds will boost the development of Cosmic’s embedded wing design, a key enabler for achieving the energy efficiency the company is targeting for its zero-emission aircraft that can carry 24 passengers. The full-scale flight demonstrator is on track for its first flight in 2026, with entry into service targeted at the end of the decade.
Christopher Chahine, co-founder and CEO of Cosmic, said the technology exists to build long-range electric aircraft but needs to be developed into a commercial product that is certifiable in current and future regulatory frameworks.
The seed round was led by climate tech-focused venture capital firm Pale blue dot with participation from deep tech and fellow climate tech investors including Aera VC, Visionaries Club Tomorrow, Fifty Years, Possible Ventures, Syndicate One, Course Corrected, Understorey Capital and Samurai Incubate.
“We are incredibly impressed by the pragmatic development approach the team at Cosmic has demonstrated and are convinced that this is the right way forward to enable a truly meaningful decarbonization of aviation,” said Joel Larsson, general partner at Sweden-based Pale blue dot. “We are excited to back Cosmic and believe the team has what it takes to lead the aviation industry into a sustainable future.”
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