Parallel Flight, a U.S.-based drone tech startup, has successfully secured more than $1.33 million through its Reg A+ offering on crowdfunding platform StartEngine.The funding round has attracted 900 StartEngine investors.
As previously reported, 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.”
Parallel Flight is planning to use the funds for its products’ development, as well as expansion of its team.
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!