Aero raises $65m for expansion
Semi-private charter company Aero Technologies has raised $65m in capital, taking it up to a $300m valuation.
The San-Francisco-based company, which offers aircraft that can be booked exclusively by a group or per seat, raised $50m in Series B funding and $15m in convertible notes. The funding round was co-led by European alternate investment firm AlbaCore Capital Group and returning investors Expa and Keyframe Capital, with new investment from Capital One Ventures.
The group said the Series B funding will be used to drive the company’s global market expansion and to meet increased demand on existing routes. Currently, clients can fly from Los Angeles and San Francisco to destinations like Aspen, Sun Valley and Colorado and from London Farnborough to the Greek island Mykonos, Ibiza and Nice.
With a fleet of ERJ135 16-seater jets and 13-seater Legacy 600s, Aero allows customers to travel with a dedicated concierge service in direct, premium flights via private terminals, offering quicker journeys to popular leisure destinations.
“Aero’s success over the last few years highlights that customers in both the US and Europe have been waiting for the Aero travel experience,” said Uma Subramanian, CEO, Aero. “Aero is growing fast and we look forward to bringing the Aero experience to new markets in the coming months.”
“Aero has consistently delivered an unforgettable flying experience and proven to be a leader in the next chapter of premium air travel,” said John Rapaport, chief investment officer, Keyframe Capital. “Aero has built a recognisable brand and a thoughtful jet service that customers love. We are excited to continue building upon Aero’s successes and to be by their side to develop next-level global air travel experiences.”
Aero, which was launched in Europe in 2019 and in the US in 2021, claims all its seats on its bespoke black jets are “first-class seats”. The company has a range of partners including W Hotel Aspen, Black Tie Ski Rentals and Wally’s Wine and Spirits.