Alef, backed by the VC Tim Draper, is the latest entrant in the electric vertical takeoff and landing space.
(Bloomberg) — Venture capitalist Tim Draper is preparing to help launch a startup building an electric aerial passenger vehicle to be unveiled later this month, just a few weeks after the high-profile flameout of a “flying car” company backed by Google co-founder Larry Page.
The new startup, Alef Aeronautics Inc., is focused on developing a vehicle that looks more like a car than a small helicopter. That would set it apart from most companies in an emerging industry building so-called electric vertical takeoff and landing vehicles.
The founders of Alef haven’t said much publicly about their startup, but they’ve been working on it since 2015. A small group of engineers have been developing the vehicle in San Mateo, California, with the goal of making a “real car” that can take off vertically and “be affordable for most people (not just the rich),” according to Alef’s website, which recently went live.
The company, formerly called Armada Aeronautics, showed a small-scale model to Draper several years ago, and he was impressed. That demonstration was enough to convince Draper to become the “pioneering investor” in the company, Alef said. A full-size prototype was flown for the first time in 2019. Alef’s website contains few other details about the project, though it says the exterior was developed by former Bugatti designer Hirash Razaghi.
Draper has long been connected to what could be called the personal air mobility industry. He was soliciting proposals for a flying car as far back as 2004. He has since invested in two different jetpack startups through his fund, Draper Associates, including one that is also working on a motorcycle-style flying vehicle. Draper didn’t respond to a request for comment.
Silicon Valley’s wealthy have long coveted the idea of a Jetsons car come to life. Page poured his own money into perhaps the most ambitious effort to develop one, Kittyhawk, but the company called it quits in September after more than 10 years attempting to create a reliable vehicle and a viable business model. Other air taxi companies are still at it despite a rash of crashes during testing. At least two, Joby Aviation Inc. and Lilium NV, recently went public by merging with blank-check companies.
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