California hybrid-electric regional VTOL startup Odys Aviation, formerly Craft Aerospace, has announced a $12.4 million seed funding round. It includes strategic investment from Giant Ventures, Soma Capital, 11.2 Capital, Countdown Capital, Uber Elevate co-founder Nikhil Goel and Cruise Automation founder Kyle Vogt, bringing total funding to $13.7 million .The seed funding round will help expand its physical footprint with a new state-of-the-art facility, as well as expand its executive leadership and engineering teams. Co-founder Axel Radermacher will take on a new role as head of product.

"This truly unique aircraft is on track to reimagine travel as we know it," says Giant Ventures co-founder and general partner Tommy Stadlen. "Led by a world class team of industry pioneers, Odys Aviation is creating systemic change in the way we travel. This will eliminate the frustration and long hours spent in traffic and at airports, as well as the detrimental impact that planes and cars have on the planet. This is exactly the type of ambitious, purpose-driven innovation Giant was set up to fuel."

The Odys aircraft uses a patented VTOL architecture and a flap-based lifting technology that allows for a simple transition to lofted flight and more efficient cruise. It will carry nine passengers and have a maximum speed of 345 mph, a range of 1,000 miles and a cruise altitude of 30,000 ft. This design, combined with the use of city helipads, municipal airports and future vertiports, cuts travel time in half on the world's busiest travel corridors and offers total trip cost competitive with existing travel options. The company plans to demonstrate a one passenger prototype aircraft later this year.

"Travelling shouldn't be a painful experience, and it certainly shouldn't be taking a toll on our environment and communities," says Odys co-founder and CEO James Dorris. "Odys Aviation is building an aircraft that reduces CO2 by up to 80 per cent while eliminating travel pain. Beyond and distinct from air taxis, our range covers 65 per cent of domestic flights, and we're proud to be getting so much traction with airlines so soon after inception."

The aircraft's speed, range and size is uniquely suited for high volume operators. The company expects type certification in 2026.

"Airlines flying Odys Aviation will unlock new market opportunities and a superior travel experience via new point-to-point routes," adds Radermacher. "Additionally, they will strengthen their existing networks by broadening the catch basin of existing hubs and airports. We are designing the aircraft with input from major airlines to make sure we are a good fit for their operations. Our customers expressed the need for a high productivity, low CO2 aircraft, and we listened."

Current investors in Odys Aviation include Y Combinator, Brogan BamBrogan and Pedram Keyani.