Elroy Air Expands PIPE Financing To $175 Million With Lockheed Martin Ventures Participation
Elroy Air, a developer of autonomous heavy-cargo drones, raised $175M in PIPE financing, including Lockheed Martin Ventures. The funds will support manufacturing and commercial deployment of its Chaparral aircraft. The company plans to go public via a merger with Inflection Point Acquisition Corp. VII (NASDAQ: IPXG). Elroy Air has secured a $46M U.S. Army contract and expanded partnerships with Bristow Group.

