REGENT Craft Raises $240 Million in Series B Funding
REGENT Craft, based in North Kingstown, Rhode Island, has successfully closed a $240 million Series B funding round. The company specializes in developing and manufacturing all-electric, passenger-carrying, wing-in-ground-effect vehicles designed to service coastal routes using proven technology.
Investors and Their Contributions
The funding round was led by Erebor Bank, with significant participation from Mare Liberum, AE Ventures, DCVC, Founders Fund, Caffeinated Capital, Lockheed Martin Ventures, Japan Airlines, and Giant Step Capital. This diverse group of investors underscores the broad confidence in REGENT Craft’s innovative approach to sustainable transportation.
Leadership and Vision
The company is co-founded by Billy Thalheimer, who serves as CEO, and Michael Klinker, who is the CTO. Their leadership has been pivotal in positioning REGENT Craft at the forefront of the electric transportation revolution.
Strategic Use of Funds
While specific plans for the new funds were not detailed in the announcement, it is expected that the capital will be used to enhance product development and expand market reach. The focus will likely be on scaling the production of their innovative vehicles and strengthening their technological capabilities.
The Path Ahead
With this substantial injection of capital, REGENT Craft is well-positioned to advance its mission of revolutionizing coastal transportation with environmentally friendly solutions.
For more information about the company and its offerings, visit their website at regentcraft.com.