BluJ Aerospace Secures $2.25 Million In Seed Funding Round

Updated on: 30 June 2023 3:15 pm

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BluJ Aero, an aviation start-up has raised $ 2.25 million in seed funding to develop a hybrid-electric VTOL aircraft powered by Hydrogen Fuel cell technology for regional transportation.

The funding round is led by Endiya Partners and Ideaspring Capital with participation from Rainmatter Foundation.

The infused capital will help the company to accelerate the development of its product. The product is expected to have a payload of more than 100 kg.

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BluJ was founded in May 2022 by Maruthi Amardeep Sri Vatsavaya, a University of Cincinnati graduate and Utham Kumar Dharmapuri.

"We're thrilled to have secured the seed funding and are excited to partner with Endiya, Ideaspring and Rainmatter Foundation on our journey to revolutionize regional air transportation," said Maruthi Amardeep Sri Vatsavaya, Co-founder & CEO of BluJ.

"We aim to achieve cost-efficiency and sustainability through vertical integration on all the key technologies involved. This funding will enable us to build a world-class team, develop core technologies and establish a strategic roadmap for regulatory approvals and market entry,” he added.

"We are thrilled to lead this funding round for BluJ Aero”, said Sateesh Andra, Managing Director, Endiya Partners.

At Endiya Partners, we are excited to support innovative deep tech solutions that address local challenges. BluJ Aerospace, hailing from Hyderabad, which is home to exciting mobility and space-tech companies, perfectly encapsulates this ethos," said Sateesh Andra, Managing Director, Endiya Partners. "Their pursuit of a hydrogen-fueled, VTOL aircraft technology for both passenger and cargo transport is a testament to their commitment to creating sustainable and efficient solutions for mobility. We firmly believe that the team's collective expertise and vision will reshape the future of intelligent mobility,” he added.