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Panhwar Jet Inc. Receives $10 Million Series A Funding From Valkyrie Group

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Panhwar Jet Inc. Receives $10 Million Series A Funding From Valkyrie Group

August 05
22:57 2021

Panhwar Jet Inc, a Newport based startup, is proud to announce the receipt of $10 Million in Series A funding from Valkyrie Group. Valkyrie Group, a Utah based venture capital firm, also plans to raise an additional $100 Million Series B round of capital to accelerate the growth of the new venture. Both ventures have strategically decided Heber city, Utah, the hidden gem to be the Panhwar Jet’s manufacturing location.

Panhwar Jet is designing and building the world’s first all-electric, self-charging luxury business aircraft. The groundbreaking self-charging technology will eclipse the competition in the electric aviation industry. Current battery density does not allow other electric aircrafts to fly beyond 2 hours total flight time. However, the disruptive self-charging technology invented by Panhwar Jet will allow their aircraft to fly up to 12 hours without touching down.

Panhwar Jet’s patented technology has solved the battery problem that others could not. Panhwar Jet is also determined to provide the best flight experience by using clean, sustainable energy which will create a new future of aviation where speed and range have no limitations.

Chad Swensen, Founder and Managing Partner of Valkyrie, says, “We’re excited about the innovation that Panhwar Jet is bringing to a large global market. We are committed to supporting Panhwar Jet realize the full potential of such a revolutionary technology in electric aviation.”

“We’re excited to collaborate with Valkyrie Group as our strategic capital partner,” says Ms. Ayisha Fareed, Chairman, and CEO of Panhwar Jet. Fareed commented, “Valkyrie and Panhwar Jet share the passion, team spirit, background, and experience that will disrupt the electric aviation industry.”

According to Fareed, “This investment will allow Panhwar Jet to enhance the specifications of “ElectroBird,” our first two-seater all-electric plane. We will unveil our technology to the world while attempting to achieve several world records in electric aviation. All records will be verified by The Guinness Book of Records. The announcement of the date will be in late October 2021.”

Media Contacts:

Panhwar Jet
Ms. Kulsum Hussain, Communication Manager at Panhwar Jet
Cell: 949-763-9601
Email: [email protected]
Web: https://www.panhwarjet.com

Valkyrie Group LLC
Doug Corpuz
Cell: 801-580-6685
Email: [email protected]
Web: https://www.valkyriegrp.com

Media Contact
Company Name: Panhwar Jet
Contact Person: Ms. Kulsum Hussain, Communication Manager
Email: Send Email
Phone: 949-763-9601
Country: United States
Website: https://www.panhwarjet.com


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