About Parallel Flight
Parallel Flight is a company based in Watsonville (United States) founded in 2018.. Parallel Flight has raised $1.34 million across 5 funding rounds from investors including NASA and America’s Seed Fund. Parallel Flight offers products and services including Firefly UAS. Parallel Flight operates in a competitive market with competitors including Hemav, Airware, Altaeros, Azur Drones and Avy, among others.
- Headquarter Watsonville, United States
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Sectors
Aerospace, Defense & Maritime
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Parallel Flight Technologies, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$1.34 M (USD)
in 5 rounds
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Latest Funding Round
$650 K (USD), Grant
Sep 01, 2021
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Investors
NASA
& 1 more
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Employee Count
Employee Count
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Products & Services of Parallel Flight
Parallel Flight offers a comprehensive portfolio of products and services, including Firefly UAS. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Heavy-lift drone for extended payload missions in defense and logistics sectors.
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Funding Insights of Parallel Flight
Parallel Flight has successfully raised a total of $1.34M across 5 strategic funding rounds. The most recent funding activity was a Grant round of $650 thousand completed in September 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 5
- Last Round Grant — $650,000
- First Round First Round
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2021 | Amount | Grant - Parallel Flight | Valuation |
investors |
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| Nov, 2020 | Amount | Seed - Parallel Flight | Valuation |
investors |
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| Sep, 2020 | Amount | Grant - Parallel Flight | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Parallel Flight
Parallel Flight has secured backing from 2 investors, including institutional and venture fund investors. Prominent investors backing the company include NASA and America’s Seed Fund. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital fund backed by the US Government
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Founded Year | Domain | Location | |
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Government space exploration and research services are provided.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Parallel Flight
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Parallel Flight
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Parallel Flight Comparisons
Competitors of Parallel Flight
Parallel Flight operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Hemav, Airware, Altaeros, Azur Drones and Avy, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Aerial photography and remote sensing services using proprietary drones
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| domain | founded_year | HQ Location |
Integrated drone platforms are developed for enterprise applications.
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| domain | founded_year | HQ Location |
Provider of wireless network infrastructure solutions
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| domain | founded_year | HQ Location |
Drone flight solutions are provided using proprietary drones.
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| domain | founded_year | HQ Location |
Medical deliveries and emergency responses are facilitated using drones.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Parallel Flight
Frequently Asked Questions about Parallel Flight
When was Parallel Flight founded?
Parallel Flight was founded in 2018 and raised its 1st funding round 1 year after it was founded.
Where is Parallel Flight located?
Parallel Flight is headquartered in Watsonville, United States. It is registered at Watsonville, California, United States.
Is Parallel Flight a funded company?
Parallel Flight is a funded company, having raised a total of $1.34M across 5 funding rounds to date. The company's 1st funding round was a Grant of $100K, raised on Sep 18, 2019.
What does Parallel Flight do?
Parallel Flight was founded in 2018 and is based in Watsonville, United States. A drone platform tailored for industrial uses is offered, featuring the Heavy Lift Platform with Parallel Hybrid technology. This enables the lifting of payload equal to the platforms own mass, excluding fuel, for more than one hour. Applications include unmanned logistics, search-and-rescue operations, firefighting, and heavy sensor deployments.
Who are the top competitors of Parallel Flight?
Parallel Flight's top competitors include Hemav, Altaeros and Azur Drones.
What products or services does Parallel Flight offer?
Parallel Flight offers Firefly UAS.
Who are Parallel Flight's investors?
Parallel Flight has 2 investors. Key investors include NASA, and America’s Seed Fund.
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