MightyFly Awarded the Department of the Air Force SBIR Phase II Contract and Received Investment From Draper Associates
SAN FRANCISCO, November 2, 2023 (Newswire.com) - MightyFly announces it has been selected by AFWERX for a SBIR Phase II contract in the amount of $1.25 million focused on MightyFly’s Autonomous Load Mastering System (ALMS) to allow MightyFly’s autonomous hybrid eVTOL cargo aircraft to load, unload and deliver cargo autonomously.
MightyFly’s Autonomous Load Mastering System will provide automation, efficiencies and cost savings to businesses and governments. It will enable MightyFly’s MF100 third-generation aircraft to deliver point-to-point, same-day and expedited delivery services that are faster, more efficient, reliable and economical than incumbent express logistics services. The MightyFly solution is ideal for logistics, supply chain, manufacturing, healthcare, pharmaceutical, retail, automotive and oil and gas industries, national and state parks, and humanitarian and disaster relief organizations.
“The MightyFly team is working to revolutionize expedited logistics via large, autonomous, hybrid eVTOL cargo aircraft. To be chosen by AFWERX for this SBIR Phase II contract signifies a vote of confidence in our mission and technical expertise. We are honored to partner with the U.S. Air Force and to leverage our know-how to develop a system that directly addresses agile and expedited logistics needs and provide a major feature that is needed for the successful integration of autonomous aircraft within logistics,” said Manal Habib, CEO of MightyFly.
The Air Force Research Laboratory and AFWERX have partnered to streamline the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) process by accelerating the small business experience through faster proposal to award timelines, changing the pool of potential applicants by expanding opportunities to small business and eliminating bureaucratic overhead by continually implementing process improvement changes in contract execution.
Additionally, MightyFly announces that, in September 2023, it welcomed Tim Draper, through Draper Associates, to its investors. Draper Associates is a leader in early-stage venture capital for tech companies, helping transform industries with new technologies. With this financing round, MightyFly is advancing the development of its autonomous cargo aircraft, which will bring key capabilities to the expedited delivery market, and boosting the company’s go-to-market efforts.
“We backed Mighty Fly because of their incredible team. If you absolutely need something delivered right now, Mighty Fly can deliver it. I suspect MightyFly will save many lives, deliver important contracts, fix many vehicles and machines, and solve many problems we haven’t even thought of yet. For short haul, medium loads, this company has your solution,” said Tim Draper, Founding Partner of Draper Associates.
The views expressed are those of the author and do not necessarily reflect the official policy or position of the Department of the Air Force, the Department of Defense or the U.S. government.
Source: MightyFly
