Silicon Valley is understood for embracing the ethos of “transfer quick and break issues.” Poseidon Aerospace’s co-founder and CEO David Zagaynov simply desires to maneuver issues quick.
When he was engaged on logistics at Amazon in 2024, Zagaynov and his Poseidon co-founder Parker Tenney (who was at Lockheed Martin) discovered themselves repeatedly speaking concerning the rise of superior air mobility startups. They realized, Zagaynov informed TechCrunch in an unique interview, that the main focus was nearly at all times on introducing flashy new applied sciences.
“Philosophically, we wish to construct the way forward for aerologistics,” Zagaynov stated. “To not be a hater, however I believe lots of people who begin aerospace firms get nerd-sniped by very cool know-how after which wish to implement it into market. For us, we wish to enhance cargo.”
Poseidon Aerospace secured $11 million in seed funding final 12 months in pursuit of this aim. Now, the corporate has closed a $60 million Collection A forward of the primary check flight of its uncrewed cargo airplane, Egret, anticipated by the top of this 12 months.
The funding spherical was led by early-stage VC agency TQ Ventures, and noticed new investments from Hanwha Asset Administration, G Squared, and JAWS. Present backers Starship Ventures, Draper Associates, and Drover Ventures additionally invested.
True to Zagaynov’s allergy to getting “nerd-sniped” by promising-yet-currently-unworkable applied sciences, Poseidon is being constructed with a ruthless method to reducing the price of transporting cargo.
The startup is embracing autonomy and distant piloting, however it’s not bothering with the vertical takeoff and touchdown tech that’s de rigueur amongst so many aviation startups. There’s additionally no hydrogen or electrical powertrain to be discovered. Egret and its seaplane variant, Heron, are fixed-wing plane powered by common previous combustion engines.
“It’s actually onerous to beat the power density of fuels of something carbon-related,” Zagaynov stated. “Can I make a very good field with wings to maneuver issues for tremendous low-cost? In case you do this, then abstracting the tech away, we’re left with unmanned cargo like planes which might be in a position to function on a a lot decrease price curve, and have a lot larger utilization.”
Zagaynov stated Poseidon is initially concentrating on the protection and regional industrial cargo areas.
On the protection aspect, the startup is designing its plane so it could actually service “distant communities and underserved routes the place air cargo service is constrained.” Poseidon desires its planes to deal with places with “degraded or nonexistent infrastructure,” as a result of such capabilities make a nation’s logistics capabilities “more durable to disrupt and extra resilient to adversary denial.” The startup has noted previously that China is already testing its personal cargo drones.
On the industrial aspect, Zagaynov stated Poseidon isn’t going to promote its planes. He desires Poseidon to function its personal regional air cargo enterprise with a view to compete with present air cargo carriers for enterprise from UPS, FedEx, and others.
Not requiring pilots for the plane additionally paves the best way for Poseidon to function at decrease price. “What’s very good is, logistics is a commodity, and so should you promote a commodity and do it higher, sooner, cheaper, the demand is all yours,” he stated.
The autonomy additionally makes Poseidon a doubtlessly extra versatile and dynamic provider, in accordance with Zagaynov. If demand spikes in a selected area, it will likely be simpler for Poseidon to vary its routes because it isn’t planning round a selected pool of pilots who dwell in a single space or one other. He additionally imagines a world the place Poseidon’s plane can break the standard hub-and-spoke mannequin of regional air cargo, and do extra point-to-point journeys, much like how low-cost industrial airways like Breeze or Avelo function.
“When you’ve got a pilot, they’ve a most quantity of hours that they will fly. So in the event that they fly a five-hour leg in a single course, they’re not in a position to come again residence. And except you’ve got a reduction [pilot], then it’s important to pay for them to spend the evening someplace,” he stated. “The airplane is sort of a very costly asset that spends most of its life simply ready.”
One other advantage of not having a pilot, in accordance with Zagaynov, is that it frees up the startup to vary basic points of the design of its plane.
“Do away with the cockpit; do away with the life help methods,” he stated. “You get to drag a ton of structured weight out, which then implies that your ratio of payload to empty weight modifications. Your engines may be a lot lighter, rather more environment friendly, and so it’s like a virtuous cycle within the optimistic course of simply lighter, cheaper.”
To do all this, Poseidon has expanded into an previous Navy hanger in Alameda, California, and is about to go on a hiring spree because it pushes towards that first flight. The startup final 12 months developed and flew a quarter-scale model of its automobile, which it known as Seagull, however it wanted extra space to construct its full-size, 50-foot-wingspan plane.
Poseidon’s additionally benefiting from a regulatory surroundings that’s open to new concepts. The Federal Aviation Administration not too long ago began a pilot program that makes it simpler for startups engaged on electrical vertical takeoff and touchdown plane to check their tech. Poseidon isn’t working in that house, however Zagaynov stated his startup nonetheless advantages from this system, and that there’s a “path to commercialization that I don’t suppose existed like 5 to 10 years in the past.”
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