Boom plans to make its supersonic airliners, called Overture, at a factory in Greensboro, North Carolina. (Courtesy Boom Supersonic)
Boom Supersonic is flying high.
The company building a supersonic civilian jet is finalizing a $300 million raise, according to an email CEO Blake Scholl sent to investors last week.
The round is expected to close early next week and gives the Centennial-based company a $1.5 billion post-money valuation, Scholl said in the email, which was obtained by BusinessDen.
The round is led by Darsana, with participation from Altimeter, Robinhood Ventures, ARK Invest, Bessemer and Y Combinator. Scholl said Boom originally intended to raise $150 million but found a great deal of interest from investors.
Blake Scholl (Courtesy Boom Supersonic)
Scholl and Boom did not respond to a request for comment.
Boom has raised $600 million since Scholl founded the company in 2014, according to the company’s website. After Boom raised $50 million in 2020, Scholl told Bloomberg his company was worth $1 billion.
That appears to be the only time Boom has publicly shared its valuation. When Scholl announced a $100 million round a year ago on X, he called it a “recap/downround,” which means it raised at a lower value than before.
The $300 million in new cash will be used to scale the production of its turbines, currently called Symphony Power — although that name appears to be changing.
The Superpower turbines will be used as an energy source for data centers that power artificial intelligence software, the company announced Tuesday morning. Crusoe, a fellow Colorado company that builds data centers, is Boom’s first customer for the product, it said. Crusoe will buy 29 of the turbines, and Boom says it will deliver the first in 2027.
“The Series B fully funds our ability to ship the Superpower (was: Symphony Power) industrial turbine at scale,” Scholl said in the email to investors. “And Superpower, in turn, provides the engine that finances Overture certification and production.”
Overture is the name of Boom’s planned high-speed passenger plane. The company says the aircraft will cut travel time in half and fit between 60 and 80 passengers. The jet engine that powers the airliner will still be called Symphony.
Boom expects to complete a prototype test of its engine next year, its website says.
Boom said it has preorders for 130 planes, including from United Airlines, American Airlines and Japan Airlines. In an interview last month, Scholl told Fox Business that Boom will be ready to fly passengers by the end of the decade.
Boom’s prototype jet broke the sound barrier in January with speeds up to 845 miles per hour, according to Reuters. The company did that without any audible sonic boom heard on the ground, it said.
Editor’s note: This story was updated after publication with information announced by Boom Supersonic.
Boom plans to make its supersonic airliners, called Overture, at a factory in Greensboro, North Carolina. (Courtesy Boom Supersonic)
Boom Supersonic is flying high.
The company building a supersonic civilian jet is finalizing a $300 million raise, according to an email CEO Blake Scholl sent to investors last week.
The round is expected to close early next week and gives the Centennial-based company a $1.5 billion post-money valuation, Scholl said in the email, which was obtained by BusinessDen.
The round is led by Darsana, with participation from Altimeter, Robinhood Ventures, ARK Invest, Bessemer and Y Combinator. Scholl said Boom originally intended to raise $150 million but found a great deal of interest from investors.
Blake Scholl (Courtesy Boom Supersonic)
Scholl and Boom did not respond to a request for comment.
Boom has raised $600 million since Scholl founded the company in 2014, according to the company’s website. After Boom raised $50 million in 2020, Scholl told Bloomberg his company was worth $1 billion.
That appears to be the only time Boom has publicly shared its valuation. When Scholl announced a $100 million round a year ago on X, he called it a “recap/downround,” which means it raised at a lower value than before.
The $300 million in new cash will be used to scale the production of its turbines, currently called Symphony Power — although that name appears to be changing.
The Superpower turbines will be used as an energy source for data centers that power artificial intelligence software, the company announced Tuesday morning. Crusoe, a fellow Colorado company that builds data centers, is Boom’s first customer for the product, it said. Crusoe will buy 29 of the turbines, and Boom says it will deliver the first in 2027.
“The Series B fully funds our ability to ship the Superpower (was: Symphony Power) industrial turbine at scale,” Scholl said in the email to investors. “And Superpower, in turn, provides the engine that finances Overture certification and production.”
Overture is the name of Boom’s planned high-speed passenger plane. The company says the aircraft will cut travel time in half and fit between 60 and 80 passengers. The jet engine that powers the airliner will still be called Symphony.
Boom expects to complete a prototype test of its engine next year, its website says.
Boom said it has preorders for 130 planes, including from United Airlines, American Airlines and Japan Airlines. In an interview last month, Scholl told Fox Business that Boom will be ready to fly passengers by the end of the decade.
Boom’s prototype jet broke the sound barrier in January with speeds up to 845 miles per hour, according to Reuters. The company did that without any audible sonic boom heard on the ground, it said.
Editor’s note: This story was updated after publication with information announced by Boom Supersonic.
