Elroy Air
California, US · Founded 2016 · Delaware corporation · 18 known investors
Elroy Air develops autonomous hybrid-electric aircraft for heavy-payload cargo delivery, serving commercial logistics, defense, and humanitarian customers. The company builds and operates the Chaparral vehicle, a turbogenerator-hybrid eVTOL aircraft designed for distributed aerial logistics in remote and contested environments.
Deep TechHardwareLogistics & Supply ChainRobotics
Founders & leadership
Elroy Air was founded in 2016 by Dave Merrill and Clint Cope.
DM
Dave MerrillCo-founder
CC
Clint CopeCo-founder
AC
Andrew ClareCEO
Board
DL
Investors · 18
Shield Capital✓ verifiedSan Franciscovia Raj Shah · board
Snowpoint✓ verifiedPalm Beach
Aster CapitalParis · $540K – $16.2M
Catapult VenturesSilicon Valley · $250K – $1.5M
City LightNew York · $1M – $6M
HCVCParis · $100K – $1M
Hemisphere Ventures LLCMckinney
HomebrewBurlingame · $100K – $500K
Prosperity7 VenturesDhahran
Rackhouse Venture Management LpSan Francisco · $250K
Script CapitalSan Francisco · $250K – $500K
Sprint VcBangalore · $300
The E14 FundCambridge · $1M – $5M
Yes VCSan Francisco · $30K – $1.5M
Cubit CapitalreportedDallas · $500K – $3M
Lemnos VCreportedSan Francisco
Lockheed Martin VenturesreportedBethesda
Mana VenturesreportedEstero
Reported raises · per SEC filings
Form D private placements$94.1M disclosed across 4 rounds · 2020–2024
▶$6.6MraisedNov 2024 · 112 investors · OtherRule 506(b)
▶$6.6MraisedNov 2024 · 112 investors · Other
Rule 506(b)Officers, directors & promoters on the filing
- Raj ShahDirector
- Mislav TolusicDirector
- Mark EsperDirector
- Grant NewmanExecutive Officer
- David MerrillExecutive Officer, Director
- Darren LiccardoDirector
- Clinton CopeExecutive Officer, Director
- Offering amount
- $10M
- Amount sold
- $6.6M
- First sale
- Oct 2024
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$48.9MraisedFeb 2024 · 38 investors · OtherRule 506(b)
▶$48.9MraisedFeb 2024 · 38 investors · Other
Rule 506(b)Officers, directors & promoters on the filing
- Clinton CopeExecutive Officer, Director
- Mark T. EsperDirector
- Raj ShahDirector
- Darren LiccardoDirector
- David MerrillExecutive Officer, Director
- Offering amount
- $52.4M
- Amount sold
- $48.9M
- First sale
- Jan 2024
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$31.7MraisedDec 2021 · 59 investors · OtherRule 506(b)
▶$31.7MraisedDec 2021 · 59 investors · Other
Rule 506(b)Officers, directors & promoters on the filing
- Darren LiccardoDirector
- David MerrillExecutive Officer, Director
- Clinton CopeExecutive Officer, Director
- Offering amount
- $31.7M
- Amount sold
- $31.7M
- First sale
- Jun 2021
- Incorporated
- Corporation, Delaware, 2016
- Federal exemptions
- 06b
▶$6.8MraisedApr 2020 · 23 investors · OtherRule 506(b)
▶$6.8MraisedApr 2020 · 23 investors · Other
Rule 506(b)Officers, directors & promoters on the filing
- David MerrillExecutive Officer, Director
- Darren LiccardoDirector
- Clinton CopeDirector
- Offering amount
- $7.8M
- Amount sold
- $6.8M
- First sale
- Mar 2020
- Incorporated
- Corporation, Delaware, 2016
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Competitors · 6
by search overlapAinonline20 shared keywordsAIN Online is a news and media publication covering business aviation, aircraft, and aviation industry events and developments.
Archer Aviation16 shared keywordsArcher Aviation is an aircraft manufacturer developing commercial aviation technology, including certification and defense applications.
Inspiredflight14 shared keywordsInspired Flight develops drones along with a cloud-based software suite (Inspired Ground Control, Elevate, and PilotGo) for managing drone operations, including pilot authentication, preflight checklists, and payload integration. It also offers tiered drone protection and support plans (Inspired Care) covering warranty, maintenance, repairs, and technical support for drone operators.
Avinc13 shared keywordsAV develops integrated defense technology and intelligent systems for military use across land, air, sea, space, and cyber domains. It serves defense and warfighter customers with engineered solutions designed for reliability and scale.
Freight Waves11 shared keywordsFreightWaves is a news and editorial publication covering logistics, supply chains, and freight transportation sectors.
Aviationtoday11 shared keywordsAviation Today is an online news publication covering commercial and military aviation, including aircraft leasing, defense programs, avionics, and industry developments. It provides articles and analysis for aviation industry professionals.
Companies competing with Elroy Air for the same Google search keywords, organic and paid, via search-intersection analysis.
Non-dilutive funding · 2 SBIR/STTR awards
Federal grants — no equity taken| Agency | Phase | Year | Amount |
|---|---|---|---|
| U.S. Air ForceAir Force | Phase II | 2022 | $1.7M |
| U.S. Air ForceAir Force | Phase II | 2019 | $1.6M |
Source: SBIR.gov award data (U.S. Small Business Administration). SBIR/STTR awards are competitive federal R&D grants and contracts — non-dilutive capital alongside any venture rounds above.
In the news
Frequently asked questions
- What does Elroy Air do?
- Elroy Air develops autonomous hybrid-electric aircraft for heavy-payload cargo delivery, serving commercial logistics, defense, and humanitarian customers. The company builds and operates the Chaparral vehicle, a turbogenerator-hybrid eVTOL aircraft designed for distributed aerial logistics in remote and contested environments.
- Who founded Elroy Air?
- Elroy Air was founded by Dave Merrill, Clint Cope in 2016.
- Who are Elroy Air's investors?
- Elroy Air's investors include Shield Capital, Snowpoint, Aster Capital, Catapult Ventures, City Light, HCVC, Hemisphere Ventures LLC, Homebrew and 10 more.
- How much funding has Elroy Air raised?
- Elroy Air has disclosed $94.1M raised across 4 rounds.
- Where is Elroy Air headquartered?
- Elroy Air is headquartered in California, US.