# Elroy Air

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/elroy-air

- Industry: Aerospace
- Headquarters: US
- Website: www.elroyair.com
- Total disclosed funding: $90M
- Latest round: Series A (Jan 16, 2024)
- Investors on record: 17

## About

Based in the US, Elroy Air, Inc. operates as a provider of advanced logistics solutions, specializing in innovative aerial cargo delivery systems designed to enhance efficiency in challenging environments.Elroy Air, Inc. focuses on the development of logistics technology, specifically through its pioneering Chaparral aircraft cargo pod system. The company was founded in 2016 and is headquartered in San Francisco, US. The founders, Clint Cope and David Merrill, have backgrounds in technology and engineering. In September 2026, Elroy Air, Inc. raised USD 175 million in venture funding from Inflection Point Ventures and Lockheed Martin Ventures. Elroy Air specializes in advanced middle-mile logistics solutions, with its core offering being the Chaparral aircraft cargo pod system. This innovative product features a vertical takeoff and landing (VTOL) capability, supported by a hybrid-electric powertrain and autonomous flight functionalities. The Chaparral is designed to address critical logistics needs by enabling seamless delivery in areas with limited infrastructure, thereby expanding express logistics capabilities beyond traditional roads and airports. The system is particularly beneficial for military resupply missions in contested environments, as well as humanitarian shipping efforts in underserved communities. Elroy Air's products target a diverse client base, including military organizations, logistics companies, and humanitarian agencies, with deployments anticipated in various geographical markets, including North America and regions facing logistical challenges.Elroy Air generates revenue primarily through partnerships and direct engagements with clients in the logistics, military, and humanitarian sectors. The transaction structure involves customized agreements that can include service contracts for the deployment and operation of the Chaparral system. Revenue is derived from a combination of one-time sales of the aircraft cargo pods, ongoing maintenance services, and potentially subscription-based models for software and operational support. Specific pricing plans or transaction amounts for the flagship Chaparral system and associated services are not disclosed. The company’s emphasis on facilitating same-day shipping capabilities positions it to effectively serve the demands of its diverse clientele.In January 2024, Elroy Air raised USD 48.926 mn in Series A funding, led by returning investor Shield Capital. This capital will be utilized for the development of new products and expansion into new markets. Elroy Air aims to enhance its Chaparral aircraft capabilities while exploring potential product iterations. The company is targeting an expansion into additional regions where logistical challenges exist, specifically focusing on underserved areas. The company plan to use the September 2026 funding to expand its platform for hiring finance and accounting professionals with artificial intelligence expertise.

## Funding rounds

- Series A, Jan 16, 2024, $49M — Shield Capital
- Series A, Jun 9, 2021, $32M — Aramco Ventures, Precursor Ventures, Lockheed Martin Ventures, Catapult, Side X Side Management, Marlinspike Partners, Shield Capital, DiamondStream Partners
- Seed, Feb 13, 2019, $4.6M — Shasta Ventures, Lemnos Labs, Amplify Partners, Homebrew, Haystack, E14 Fund, Precursor Ventures, Script Capital, Levitate Capital, Catapult, Hemisphere Ventures, DiamondStream Partners
- Seed, Dec 22, 2017, $4.6M — Shasta Ventures, Lemnos Labs, Homebrew, Levitate Capital, Marlinspike Partners

## Investors

- Shasta Ventures (https://capitalatlas.ai/funds/shasta-ventures) — Seed
- Lemnos Labs (https://capitalatlas.ai/funds/lemnos-labs) — Seed
- Homebrew (https://capitalatlas.ai/funds/homebrew) — Seed
- Levitate Capital (https://capitalatlas.ai/funds/levitate-capital) — Seed
- Marlinspike Partners (https://capitalatlas.ai/funds/marlinspike-partners) — Seed, Series A
- Amplify Partners (https://capitalatlas.ai/funds/amplify-partners) — Seed
- Haystack (https://capitalatlas.ai/funds/haystack) — Seed
- E14 Fund (https://capitalatlas.ai/funds/e14-fund) — Seed
- Precursor Ventures (https://capitalatlas.ai/funds/precursor-ventures) — Seed, Series A
- Script Capital (https://capitalatlas.ai/funds/script-capital) — Seed
- Catapult — Seed, Series A
- Hemisphere Ventures (https://capitalatlas.ai/funds/hemisphere-ventures) — Seed
- DiamondStream Partners (https://capitalatlas.ai/funds/diamondstream-partners) — Seed, Series A
- Aramco Ventures (https://capitalatlas.ai/funds/aramco-ventures) — Series A
- Lockheed Martin Ventures (https://capitalatlas.ai/funds/lockheed-martin-ventures) — Series A
- Side X Side Management (https://capitalatlas.ai/funds/side-x-side-management) — Series A
- Shield Capital (https://capitalatlas.ai/funds/shield-capital) — Series A