California-based aerospace manufacturer Natilus has closed a $28 million Series A round led by Draper Associates. The financing includes participation from strategic investors focused on aerospace, defense, and logistics: Type One Ventures, The Veterans Fund, and Flexport. New investors joining the round include New Vista Capital, Soma Capital, Liquid 2 VC, VU Venture Partners, and Wave FX.
The capital will fund completion of KONA, Natilus's full-scale regional cargo prototype, which is scheduled for its first flight within the next 24 months. The company is also advancing development of HORIZON EVO, a 200-passenger aircraft designed to compete directly with Boeing's 737 MAX and Airbus's A321-neo.
Global demand for aircraft has exceeded the combined output of Boeing and Airbus, creating a projected shortfall of 15,000 planes over the next two decades. Airlines and cargo operators are searching for alternatives that can navigate supply chain challenges while delivering better performance.
Natilus's blended-wing-body design addresses this gap with notable efficiency improvements. The aircraft architecture reduces fuel consumption by 30% and cuts both carbon emissions and operating costs by 50% compared to conventional tube-and-wing designs. The company has already secured 570+ aircraft orders worth $24 billion from customers including SpiceJet, Nolinor Aviation, Flexport, and Ameriflight.
"The aviation market is ripe for a new aircraft manufacturing entrant," said Tim Draper, Founding Partner of Draper Associates. "Natilus's innovative and technology-driven approach to developing blended wing aircraft has opened the doors for air freight and passenger airlines alike to embrace these new planes."
Natilus will use the new funding to complete its first manufacturing facility—a 250,000-square-foot site capable of producing 60 KONA aircraft annually. The company is currently finalizing the location for this plant, which will support its goal of delivering the first KONA by the end of this decade.
The company is pursuing FAA Part 23, Amendment 64 certification for KONA. To accelerate regulatory approval and commercial adoption, Natilus has designed its aircraft to use existing engine technology and incorporate vertical tails for stability. The planes are also compatible with current airport infrastructure and gate operations.
Beyond commercial freight, KONA is attracting attention for military applications. The optionally-piloted aircraft can carry a 3.8-ton payload and operate from shorter gravel runways, making it suitable for intra-theater transport in remote or contested environments.
The U.S. Army, U.S. Air Force, and Department of Defense have expressed interest in KONA for Agile Combat Employment operations and logistics resupply in regions like the Indo-Pacific. Its ability to access austere locations offers advantages over conventional cargo aircraft in these scenarios.
Founded in 2016, Natilus has assembled a team of engineers from Boeing, General Atomics, Northrop Grumman, Skunkworks, SpaceX, and Piper Aircraft. The company holds patents on innovations including KONA's diamond-shaped cargo bay, awarded in July of last year. In March, Natilus initiated its search for a domestic manufacturing site to begin production.
The company recently announced a significant design evolution for HORIZON EVO, transitioning from a single-deck to a dual-deck configuration. These modifications improve passenger experience and safety while maintaining the aerodynamic advantages of the blended-wing design. HORIZON EVO is slated to enter commercial service in the early 2030s.
Natilus has appointed Kory Mathews to its Board of Directors. Mathews brings extensive aerospace experience from his tenure at Boeing, where he served as VP of Phantom Works and VP and Chief Engineer of Boeing Military Aircraft. In those roles, he led advanced aircraft design and rapid prototyping programs.
"We're not just building aircraft. We're reshaping the future of aviation beyond the limitations of the tube-and-wing airframe to fundamentally transform how we transport goods and people," said Aleksey Matyushev, Co-Founder and CEO of Natilus. "With this latest funding and newest personnel additions, we are strongly positioned to bring our family of blended-wing aircraft to market, disrupting the Boeing-Airbus duopoly and bringing much-needed innovation to the aviation industry."
Mathews currently serves as a Senior Partner at New Vista Capital, which participated in this funding round. His defense and OEM expertise will support Natilus as it scales manufacturing and advances toward certification.
