Parallel Flight Technologies Secures More Than $760,000 through Reg A+ Offering on StartEngine

Parallel Flight, a U.S.-based drone tech startup, has secured more than $760,000 through its Regulation A+ (Reg A+) funding round on StartEngine. Founded in 2018, Parallel Flight stated it has created patent-pending technology allowing drones to carry heavy payloads for over two hours. Its unmanned, autonomous aircraft open new possibilities for the safety of first responders and many other commercial applications.

“We believe that drones can transform our world for the better – saving lives and protecting our environment. Parallel Flight is developing technology to unlock radical new possibilities.”

Parallel Flight revealed that its new Parallel Hybrid technology is a 10X improvement over existing solutions in terms of flight-time with a heavy payload. Our Parallel Hybrid system increases efficiency and eliminates a heavy generator component used in other hybrids, which means higher efficiency and more payload capability. Parallel hybridization is used in the automotive world but has never been applied to drones, until now.

“Our initial market is wildland firefighting support. Wildfires are an urgent public safety crisis that has been exacerbated by environmental problems. Every year, thousands become victims of wildfires and there is a constant search for new technology that will help combat these fires. Our drone technology will help firefighters by bringing them supplies such as tools, fuel, food, water, etc.  while they are in the field. It will also be able to perform controlled burns, which is an important tool for fighting wildfires. Our aircraft will also be able directly drop water on spot fires when manned aircraft are grounded due to heavy smoke or during the night.”

Funds from the StartEngine campaign will be used to continue the growth and development of the Parallel Flight drone technology. In regards to future plans, the company added:

“In three years, our goal is to be the premier supplier of heavy-lift unmanned systems for heavy-lift public safety applications, such as firefighting and search-and-rescue. We will also have pilot programs underway for adjacent markets such as ship-to-shore, remote logistics, and agriculture. In the future we plan on scaling our technology for the Urban Air Mobility market for applications such as air ambulances.”

Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!

Sponsored Links by DQ Promote


Send this to a friend