REGENT Craft has raised $240 million to transition from the development stage to production. This funding round was co-led by Mare Liberum and AE Ventures, with participation from DCVC, Founders Fund, Caffeinated Capital, Lockheed Martin Ventures, Japan Airlines, and other investors.
Half of the debt financing was provided by Erebor Bank, which was a co-founder alongside Palmer Luckey. With this latest investment, REGENT's total funding exceeds $340 million. The funds will be used to expand production, complete certification stages, and prepare deliveries for customers.
REGENT develops fully electric seagliders that combine features of ships, hydrofoils, and airplanes. These craft operate on water initially, then use retractable hydrofoils and wings to move directly above the surface.
The company's flagship model, Viceroy, is designed to reach speeds of up to 180 mph. It is intended for transporting passengers and cargo on regional sea routes, offering an alternative to traditional ferries and short-haul air travel.
The company has secured over $9 billion in pre-orders from airlines and ferry operators across six continents. Its commercial portfolio includes operators exploring the use of seagliders for faster coastal transport. Recently, the company completed construction of a 255,000 square foot manufacturing facility in Rhode Island.
REGENT is also expanding beyond commercial transport into defense applications. REGENT Defence has been established for military clients to develop marine systems. The Squire platform is an autonomous seaglider designed for defense missions. The company has also increased its collaboration with the U.S. Marine Corps under a $15 million contract. REGENT is exploring additional European opportunities as maritime safety becomes increasingly critical. Polish company Balnord supports the company's expansion in the Baltic region and Northern Europe.
Furthermore, the company has partnered with the Abu Dhabi Strategic Fund. This agreement aims to support seaglider operations and production in the United Arab Emirates. The new funding arrives just before several important milestones for REGENT.
To date, REGENT's vessels have been in the testing and development phase without passengers. The upcoming flight is expected to serve as a crucial technology demonstration before broader certification efforts begin.
Billy Talheimer, co-founder and CEO of REGENT Craft, stated that 'this investment marks a critical turning point for REGENT as we move from development to production.' He added that the funding will help scale production, meet certification targets, and deliver seagliders to customers.
The company's investors believe that REGENT is capable of meeting emerging needs in maritime transport and defense. Mare Liberum noted that this technology can provide greater speed, range, and flexibility as requirements for maritime defense evolve.
REGENT's approach also differs from traditional electric aircraft because its seagliders operate over water in accordance with maritime regulations. The company believes this may simplify certain aspects of the certification process compared to aircraft operating in controlled airspace.
The Series B round provides REGENT with significantly more capital to bridge the gap between prototypes and commercial production. The company's ability to conduct the first fully loaded Viceroy flight, achieve certification, and establish reliable manufacturing will determine whether its large commercial and defense portfolio can transform into deployed vessels.