Orb Aerospace, a startup that wants to build an entirely electric vertical take-off and landing vehicle (eVTOL), has lost roughly a third of its funding in losses in the past two years, according to SEC filings. But a seed round is in the works, company founder Alex Taylor tells Axios.
Why it matters: Building highly complex eVTOLs is a capital-intensive business, and unless another tranche of financing can materialize quickly, Orb might fail to get off the ground.
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