Dübendorf ZH – Loft Dynamics secures 24 million dollars in Series B financing. This will enable the company to further develop its virtual reality simulator for training helicopter pilots and then also offer it for Boeing 737 and Airbus A320 aircraft.
(CONNECT) Loft Dynamics from Dübendorf has raised 24 million dollars in a Series B financing round. The round was led by the Texan investment group Friedkin. Alaska Airlines and the existing shareholders Sky Dayton and Craft Ventures from San Francisco, where Dayton is a partner, as well as the venture capital company UP.Partners from the Californian city of Santa Monica have also invested.
As Loft Dynamics explains in a press release, this has increased the total financing volume to 60 million dollars. Loft Dynamics has developed the world's only virtual reality (VR) simulator certified by the US Federal Aviation Administration and the European Aviation Safety Agency. It is used by companies such as Airbus Helicopters, Air Greenland and the Los Angeles Police Department to train its pilots.
Loft Dynamics is now reportedly focused on developing a next-generation cloud-based training suite, the world's first fully integrated hardware and software system. The first new products will include existing helicopter simulators as well as new full-motion VR flight simulators for multi-crew Boeing 737 and Airbus A320 aircraft for commercial airlines. They are also said to be up to twelve times smaller than conventional simulators and cost only a fraction of the price. Loft Dynamics is also developing a system for home training.
As part of the investment, Dan Friedkin, Chairman and CEO of the Friedkin Investment Group, will join the Board of Directors of Loft Dynamics. There, Friedkin will work closely with Series A investors Sky Dayton of Craft Ventures and Ben Marcus, co-founder and managing partner at UP.Partners, who are already on the board.
"Loft Dynamics is defining the next era of flight training," says Dan Friedkin. "This investment will allow the company to scale its solution globally, drive innovation, meet a pressing industry need and increase pilot safety in the process. Loft brings the vision and execution expertise that is needed at this moment." ce/mm
You need to load content from reCAPTCHA to submit the form. Please note that doing so will share data with third-party providers.
More InformationYou are currently viewing a placeholder content from Turnstile. To access the actual content, click the button below. Please note that doing so will share data with third-party providers.
More InformationYou are currently viewing a placeholder content from Vimeo. To access the actual content, click the button below. Please note that doing so will share data with third-party providers.
More InformationYou are currently viewing a placeholder content from YouTube. To access the actual content, click the button below. Please note that doing so will share data with third-party providers.
More InformationYou need to load content from reCAPTCHA to submit the form. Please note that doing so will share data with third-party providers.
More Information