JetZero Lands $175 Million Financing to Take On Airbus and Boeing

Startup JetZero Inc. has raised $175 million from investors to take on the planemaking duopoly of Airbus SE and Boeing Co. with a mid-sized aircraft shaped like a giant manta ray.

The Series B financing, led by venture investor B Capital, takes the total amount raised to more than $1 billion including government grants, incentives and commercial commitments, JetZero said. It will help fund the first full-size prototype of the triangle-shaped jet, which promises a 50% improvement in fuel savings over conventional models like Boeing’s 767 aircraft.