Overair

Develops electric vertical take-off and landing aircraft

Santa Ana, California, United States

About Overair

Overair develops a tiltrotor electric vertical take-off and landing (eVTOL) aircraft called Butterfly, aimed at providing safe, quiet, fast, and affordable on-demand transportation. The Butterfly can carry a pilot, five passengers, and their luggage, making it suitable for personal and business travel. It operates with a fully electric powertrain, producing zero emissions, which supports the shift towards sustainable transportation. The Butterfly features large propellers, excess power margins, and a design that allows it to hover with fewer propellers, enhancing its efficiency and safety. Unlike traditional aviation options, Overair focuses on the on-demand market, with a revenue model likely based on pay-per-ride services. The goal is to transform travel by offering a more efficient and environmentally friendly alternative.

Santa Ana, CaliforniaHeadquarters
2019Year Founded
$165.4MTotal Funding
EARLY_VCCompany Stage
Automotive & Transportation, Energy, AerospaceIndustries
11-50Employees

Benefits

Health Insurance
Dental Insurance
Vision Insurance
Life Insurance
401(k) Retirement Plan
401(k) Company Match
Unlimited Paid Time Off
Paid Vacation
Paid Sick Leave
Paid Holidays
Employee Stock Purchase Plan
Fertility Treatment Support

Risks

Intense competition from Boeing and Airbus could overshadow Overair's market presence.
Delays in FAA certifications may hinder Overair's market entry.
High development costs could strain Overair's financial resources.

Differentiation

Overair's Butterfly eVTOL features 20+ ft propellers, larger than competitors'.
The Butterfly can hover with only two of its four propellers, enhancing safety.
Overair's quad-redundant architecture ensures high reliability in key systems.

Upsides

Overair's partnerships with DFW Airport and Arlington boost its market presence.
The Butterfly's zero emissions align with the trend towards sustainable transportation.
Completion of the Butterfly prototype marks a significant milestone for Overair.

Funding

Total raised$165.36 M
Latest valuation$725.00 M
StageEARLY_VC
$145
$725.00 M
SERIES A
11/30/2019
$25
$125.00 M