Bumble Bee Flights raises $37M

Bumble Bee Flights raises $37M

Bengaluru-based air mobility solutions startup Bumble Bee Flights on Tuesday said it has raised $37 million to set up a self-driven air taxi assembly plant in Odisha, reports The Economic Times.

The funding, raised from UK-based SRAM & MRAM Technologies and Resources, will be used to build the future of transportation in India, said the company’s founder Arjun Das.

Bumble Bee Flights plans to launch a human-carrying prototype by April 2023 and manufacture certified air taxis.

The air taxis, driven by solar power batteries, will be able to carry one person with a suitcase and have the ability to land on building rooftops, says the startup.

Electric vertical take-off and landing or eVTOL aircrafts are the future of urban mobility and transport, said Gurujee Kumaran Swami, Vice Chairman SRAM & MRAM Technologies and Resources Limited

Bumble Bee Flights also said that by 2035, flying vehicles will control about 10% of transportation, and will decrease pollution, save driving time, and streamline daily commutes.

Globally, the urban air mobility market is projected to touch $1.5 trillion by 2040 by growing 30% annually, says a Morgan Stanley report.