Air Wants to be the Company to Bring Commuter Aircraft to the Masses with its Air One

Air (Airev Aero) is an Israeli startup that aims to bring commuter aircraft to the masses. Air is currently accepting reservations for the drone-like, electric aircraft, which is expected to start at $150,000 once it goes into production.

Recently during OurCrowd’s Annual Global Investor Summit, CI had a chance to check out the Air One prototype.  The aircraft is designed to be operated by anyone – no pilot’s license is necessary (at least, that is the goal). The personal aircraft (electric vertical takeoff and landing or eVTOL aircraft) offers a flight control that is simple to operate, providing a vertical take-off and landing, providing a short flight time that can cover around 100 miles in a trip. The small wings provide some lift (about 60%) thus extending its range. While not quite autonomous, piloting the aircraft is largely managed by the technology – so “highly automated.” The aircraft is said to be able to fly at around 155 mph with a ceiling of around 1200 feet – so far below the ceiling of other commercial and personal aircraft. The max payload is currently 550 lb, so enough capacity for two people plus some luggage. If you need a charge, it takes just one hour to fully fill the batteries.

Speaking with founder and CEO Rani Plaut – he shared that a trip to the Kentucky Derby generated 52 reservations for the aircraft. So there is consumer interest there. He added that if he sells 600 Air Ones, he will become one of the largest suppliers of private aircraft in the US.

Air plans to start manufacturing the Air One in the US at some point in 2024. The remaining hurdles are an additional investment as well as approval by the FAA. The company intends to gain regulatory approval soon.

Following a seed round funded by “prominent businessmen in Israel,” Air is moving to a formal A Round.

Update: The securities offering is live on OurCrowd, and registered accredited investors may review the securities offering. The offering page states:

“By targeting private owners/operators, Air EV has fewer barriers to implementation, both in terms of certification and operation. The company already has 240 paid preorders and expects to start deliveries in the second half of 2024.”