Ampaire raises $19M in Series B funding for hybrid-electric aircraft

Ampaire, a California-based startup specializing in hybrid-electric aviation technology, has secured $19 million in Series B funding. The investment round was led by DiamondStream Partners and included participation from IAGi Ventures, the venture arm of International Airlines Group (IAG), and Alaska Airlines, alongside several other venture capital firms.

The capital is intended to accelerate the commercial readiness of Ampaire’s hybrid-electric AMP-H570 propulsion system. This technology is being retrofitted into Cessna Grand Caravan aircraft to create the ‘Eco Caravan,’ which aims to reduce fuel consumption by half. Additionally, the company is developing hybrid-electric applications for Auxiliary Power Units (APUs) to power aircraft systems while on the ground, reducing the fuel typically burned during idling.

Ampaire is also participating in the eVTOL Integration Pilot Program, supported by the US Federal Aviation Administration (FAA), to advance new air mobility technologies.