Regent Secures $60M In Series A Funding For Electric Seaglider Development

Regent, a startup led by CEO Billy Thalheimer, has secured $60 million in Series A funding. The funding round was led by investors such as Yamato Holdings, Strategic Development Fund, Point72 Ventures, Mark Cuban, Lockheed Martin, Karman Ventures, Japan Airlines Innovation Fund, Future Planet Capital, Founders Fund, Caffeinated Capital, and 8090 Industries.

Summary of transaction details:

• Property Type: Electric seagliders
• Transaction Amount: $60,000,000
• Investors: Yamato Holdings, Strategic Development Fund, Point72 Ventures, Mark Cuban, Lockheed Martin, Karman Ventures, Japan Airlines Innovation Fund, Future Planet Capital, Founders Fund, Caffeinated Capital, and 8090 Industries

Regent is developing electric seagliders, which are hybrid watercraft and electric aviation vehicles. These seagliders operate under maritime jurisdiction and offer sustainable and efficient water transportation. The startup plans to introduce human flight by 2024. Regent's lineup includes the Viceroy, a 12-passenger craft, and the Monarch, a 100-passenger seaglider. The company aims to target markets in Japan, Miami, the Bahamas, the Pacific Northwest, Hawaii, and other coastal regions.

The notable individuals involved in this funding round include Kerem Ozmen, Delian Asparouhov, Billy Thalheimer, Mark Cuban, and Michael Klinker. The investors, such as Japan Airlines Innovation Fund and Mark Cuban, bring valuable expertise and support to Regent's vision of transforming water transportation.