# Terrafugia

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/terrafugia

- Industry: Aerospace
- Headquarters: Woburn, US
- Website: www.terrafugia.com
- Total disclosed funding: $1M
- Latest round: Series C (Dec 23, 2010)
- Investors on record: 1

## About

Terrafugia, Inc. designs and manufactures innovative flying vehicles, aiming to revolutionize personal transportation by merging automotive and aviation technologies for enhanced travel efficiency.Founded in 2006 in Woburn, US, Terrafugia specializes in creating flying vehicles, notably the Transition. The company has undergone strategic developments and was acquired by Zhejiang Geely Holding Group Co., LTD. in November 2017 for an undisclosed amount. The CEO is Chao Jing, who leads the company in advancing its unique transportation solutions. As of November 2017, Terrafugia has raised a total of USD 1.020 mn through four funding rounds, with its latest funding being the Series D round, which also accounted for the total amount raised, and the current company valuation stands at USD 18.305 mn.Terrafugia develops innovative flying vehicles, primarily focusing on the Transition model, a roadable aircraft that allows users to drive and fly. This vehicle caters to individual users seeking efficiency and convenience and is marketed to private owners and aviation enthusiasts in North America, Europe, and Asia, with anticipated applications in urban air mobility.Terrafugia's revenue model is based on direct-to-consumer sales and pre-orders for its flying vehicles, particularly the Transition. The company engages clients in purchasing aircraft, often with financing options available. As their product range expands, Terrafugia may explore additional revenue opportunities through partnerships related to aircraft maintenance and training services, aligning their pricing with the advanced technology in their offerings.Terrafugia plans to launch new products and enhance existing models to meet customer demands while targeting expansion into new international markets. The recent acquisition by Zhejiang Geely Holding Group is expected to facilitate this growth. Specific timelines for product launches and market entry have yet to be disclosed, but the company's strategic direction is aimed at increasing accessibility to flying vehicles globally.

## Funding rounds

- Series C, Dec 23, 2010, $1M — Haiyin Capital

## Investors

- Haiyin Capital (https://capitalatlas.ai/funds/haiyin-capital) — Series C