Boom Raises $100M to Develop Supersonic Jet
Boom Supersonic raises $100 million in Series B funding to build its Mach 2.2 Overture airliner for business class travelers.
Boom Supersonic secures $100 million in a Series B funding round to develop its Mach 2.2 passenger jet, bringing its total raised capital to $141 million. The investment round is led by Laurene Powell Jobs' Emerson Collective and features prominent tech backers, including the Y Combinator Continuity Fund and early founders of major companies like Google, Airbnb, and Stripe.
The company designs its Overture aircraft to carry 55 passengers over 4,500 nautical miles at supersonic speeds. CEO Blake Scholl focuses directly on the business class market, aiming to capture a portion of the 65 million annual transoceanic passengers by the mid-2020s with a potential market for up to 2,000 jets priced around $200 million each.
Boom currently stands as one of three emerging companies trying to reboot civilian supersonic flight alongside rivals Aerion and Spike. Aviation analysts support the business case for the aircraft, pointing out that the established success of premium economy cabins allows airlines to absorb the business class passengers that shift over to supersonic flights without losing overall profitability.