Boeing sinks more money into electric air taxi project it’s co-developing with Kitty Hawk

Wisk Aero, the electric air taxi startup, raised $450 million from Boeing in a new funding round that it claims will make it “one of the most well-funded [advanced air mobility] companies in the world.”

In its announcement, Wisk highlights the fact that its “a privately-backed AAM leader,” setting up a contrast with a slate of similar startups that have gone public in recent months by merging with special purpose acquisition companies, also known as SPACs or “blank check” companies. Wisk Aero was formed in 2019 as a joint venture between Boeing and Kitty Hawk, the flying taxi company bankrolled by Google co-founder Larry Page.

Wisk says it will use the new funds to undertake a period of rapid growth, adding new employees to its current workforce of approximately 350 people and kicking off a manufacturing process that it says will result in a full-scale, commercially operational air taxi business within the next five years.