Startup raises $33 million to make supersonic passenger planes
Boom Supersonic, a Colorado startup that is developing a new class of supersonic commercial aircraft, has raised $33 million in Series A funding. Backers include Y Combinator Continuity Fund, RRE Ventures, Palm Drive Ventures, Caffeinated Capital and 8VC. As part of the deal, YC president Sam Altman and former Sequoia Capital partner Greg McAdoo have joined Boom's board of directors.
Why now: It's been more than a decade since the Concorde was grounded, which was more about post 9/11 economics than supersonic technology. Boom is hoping to significantly decrease the cost-per-flight, in part because of two major development advancements since the time of Concorde:
- Even though Boom is already testing in real wind tunnels, it can do a lot of simulation via software.
- Companies like Boeing and Airbus have spent billions of dollars helping to develop and gain approvals for carbon fiber, which can help a plane go faster and use less gas.