News and Announcements
Jetpack Aviation in $1.9m Raising
- Published November 29, 2016 3:21PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
28th November 2016, The Australian By Mitchell Bingemann
Jetpack Aviation is offering 2 per cent of its company to raise about $1.9 million as the company completes designs of its $US250,000 device before it goes on sale to private buyers early next year.
The company’s test pilot and chief executive David Mayman — one of the Australian founders of local business directory truelocal.com.au — said the funds would be used to complete production of its twin-engined jetpack, the JB-10, and start development of a new electric-powered jetpack.
“Investment in this company is not just about the opportunity of selling our current jetpacks. It’s about the future of electric commuter vehicles, which is an extraordinary field that will explode very quickly,” Mr Mayman told The Australian.
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