Poseidon Aerospace lands $60M ahead of first pilotless test flight

Poseidon Aerospace has closed a $60 million Series A, led by TQ Ventures, to fund the first test flight of its uncrewed cargo aircraft, Egret, slated for the end of the year. The fixed-wing, combustion-engine planes—Egret and its seaplane variant Heron—avoid VTOL, hydrogen or electric systems to keep operating costs low and target defense logistics in remote, infrastructure-poor areas and a self-operated regional cargo network competing with UPS and FedEx.