ICON Aircraft, the California developer of the A5 amphibious sport airplane, announced receiving $25 million in additional equity funding that will allow the start-up company to complete engineering development work and enter production as early as next year, write the guys from flyingmag.com The primary financing sources come from venture capitalists Satyen Patel, the former head of Nike’s Asia division, and Bart Becht, CEO of UK consumer products giant Reckitt Benckiser, with additional commitments from Google chairman Eric Schmidt, former Boeing chief executive Phil Condit, and “several” Silicon Valley investors. ICON will receive $15 million in funding initially, with an option for an additional $10 million if needed.
ICON Aircraft Receives $25 Million Cash Infusion - Pilot Magazin