AeroVanti Air Club has engaged Network1 Financial Securities to raise up to $9.75 million in a Series A fundraising round. It believes this capital infusion will position the Annapolis, Maryland-based charter aviation club, which has experienced 20 times growth since launching in June 2021, to continue to scale its operations, fleet, destination offerings and flight availability to its growing roster of customers.
AeroVanti offers a tiered membership model and competitive hourly pricing; its members do not encounter initiation fees, expensive hourly rates, capped miles or inconvenient booking restrictions.
The speed and efficiency of its aircraft, the Piaggio P180 Avanti, reduce operational costs without sacrificing luxury, and the fleet expansion resulting from the fundraising should keep the member-to-aircraft ratio lower than the industry average.
“Since launching last summer, we have relentlessly pursued the ultimate charter aviation experience for our members and set out to prove that luxury and convenience are not mutually exclusive,” says founder and CEO Patrick Britton-Harr. “Amid remarkable growth, we are always looking to enhance that travel experience. This includes fleet and personnel expansions, to acquisitions to support our increased operational efficiencies, to adding more available and new destinations.”
In March 2022, the company closed its acquisition of Arizona-based Marjet Aviation. The acquisition expanded AeroVanti’s fleet of P180s and other turboprops, its experienced pilot and personnel roster, as well as its operations and logistics capabilities. The acquisition included the conversion of Marjet’s FAA Part 135 certification to AeroVanti.
Current on-demand destinations span the eastern US.