Fladgate has advised Blossom Capital on its lead investment in Greenjets' $40 million Series A funding round.
Greenjets is a British aerospace technology company developing propulsion systems, electrical aircraft and launch technologies for the next generation of sustainable aviation, with both commercial and defence applications.
The company, led by co-founders Anmol Manohar and Dr Guido Monterzino, aim to advance technologies that will shape the future of aerospace, enabling quieter, faster and more efficient aircrafts. Greenjets is under contract across multiple UK and international programmes, including its recent selection by the Ministry of Defence under the Low-Cost Air Defence Effectors (LCADE) programme to develop a British drone interceptor.
The funding round was led by Blossom Capital, with participation from, amongst others, NATO Innovation Fund (NIF) and the National Security Strategic Investment Fund (NSSIF). The investment will support Greenjets' transition from development to production, including the delivery of thousands of systems over the next 12 months.
This is the third investment Fladgate has advised Blossom Capital on in the last 12 months. The team was led by Partner Janine Suttie with support from Partner Tim Wright, Senior Associate Mary Liu and Associates Jaya Pradhan, James McConkey and Rashael Kelly-Jarvis.
Janine Suttie commented:
"Congratulations to Blossom Capital and the Greenjets team on this significant investment. The transaction reflects continued investor confidence in advanced aerospace and sovereign defence and resilience technologies, as well as Greenjets' strong position at the forefront of innovation in this sector. We look forward to continuing to support Blossom Capital as it identifies and backs category-defining Founders and businesses."
Blossom Capital, commented:
"This is our third round with Fladgate in a year, and they have been a fantastic partner throughout. Janine and her team think like investors, which on a round of this complexity made all the difference."
