e-Go Aeroplanes secures 950,000 Series B round backed by SyndicateRoom and Angel CoFund

 

The UK’s “first ever” manufacturer of lightweight carbon fibre aeroplanes has announced today that it has closed £950,000 in Series B funding led by government-backed Angel CoFund, the SyndicateRoom, and a group of new and existing business angels including the first British astronaut, Michael Foale.

Founded in 2011, Cambridge-based e-Go aeroplanes is working to create a new form of aircraft which will cost less to fly than traditional aeroplanes, using “novel” technology which takes elements from non-aviation industries such as the avionics, data logging and engine management used in Formula One race cars.

Read the full article on startups.co.uk website here