News Summary

Joby Aviation has acquired Blade, an urban air-mobility business, for up to $125 million. The acquisition includes the Blade brand and its passenger business, which operates in the United States and Europe. Blade’s medical division will remain a separate company. Blade founder and CEO, Rob Wiesenthal, will continue to lead the business as a wholly owned subsidiary of Joby. This acquisition provides Joby with immediate access to a network of 12 terminals in key markets such as New York City, aiding their expansion as they seek FAA certification for their electric aircraft. In another significant development, drone startup Destinus plans to acquire Daedalean, a Swiss autopilot system developer, for $223 million in cash and stock. Additionally, Indian aerospace component manufacturer Jeh Aerospace raised $11 million in a Series A round, and Uzbekistan-based startup Uzum secured $65.5 million in investment.