As XB-1 approaches Mach 1, I’m happy to share Boom Supersonic has raised over $100M in new financing, fully funding the first Symphony engine prototype. Major investors in this round include Alexander Gerko, Bessemer Venture Partners, Michael Moritz, Reid Hoffman, Sam Altman, and Y Combinator. By being flexible on valuation (yes, this was a recap/downround, effectively a new Series A)—we created a buying opportunity for investors. This led to oversubscription and leaves the company in a stronger financial position. While no founder ever wants to do a recap, I remain focused on our mission. Humanity needs and deserves supersonic travel. And I continue to believe Boom can be one of the most significant companies of the 21st century.
Blake Scholl - Congrats. I believe in you, I believe in your company and believe in Overture. With the XB-1 you're making small but steady steps on the journey to sustained Mach 1.7 flight and I wish you success in this. As you know there are a lot of critics online saying Overture will never fly and it will end up like the Boeing 2707 (as life size wooded plane). I feel that will not happen with you, I strongly feel that Overture will happen and become real. When you build Overture's protertype and have her running under her own power then Blake the critics will shut up and the fun will start with lots of test flights in her similar to the XB-1 with the goal of sustained mach 1.7 and then entry in airline service. It would be great if BA could come on board as BA Concordes were a huge success so with Overture BA's experience would be invalueable. Good luck with XB1 and with Overture.
The human condition just have been elevated with this investment, the recap will be a blip when humans can get together each other faster no matter where on Earth…. Keep up the good work Blake. We are all behind you 200% … your team is second to none!.. Fly Fast, Fly Safe!… Ad Aeris Citius Boom!
You should spin out the engine unit and shutter the airframe division to reduce cash burn. Call the new company Bust.
Congratulations Blake and Boom. It’s been a tough environment this year to raise funds and I’m glad your perseverance has led to this result. Fingers crossed for Mach 1.
Boom is real, not just marketing hype/theory/renderings. Real engineering, real manufacturing and real testing.
thank you for being transparent to share that it was a recap. wishing the company the best of luck
Blake, the right decision isn’t always fun, but it always feels good in retrospect. Glad you were able to close this funding for Boom Supersonic and keep building!
You are locked in on the mission. So proud of you and what you are doing.
Excited to be a (small) part of this round - supersonic flight is getting very close!
Humanity doesn't need nor deserve supersonic travel, but surely some people would enjoy it.