Air travel is due for a revolution, and startup Zunum Aero just got their big chance from two major companies to jumpstart it.
Boeing and JetBlue weren’t strangers to Zunum; the two major companies had been engaged with the startup since its inception three years ago. But they hadn’t invested large amounts of money until now. Boeing HorizonX and JetBlue Technology Ventures are the venture-capital arms of each company that invested an undisclosed amount to Zunum recently.
The investments help Zunum develop its battery-powered regional airplanes, which produce less environmental damage, less noise and a better long-term savings compared to traditional air transportation models.
This goes to show that while huge companies, such as Boeing and JetBlue, have the means and wants necessary to produce a better product, it doesn’t necessarily mean they have the nature to be as nimble to reach that goal as a small business or startup, like Zunum. And while there’s no information about whether either of the major air-travel companies would absorb Zunum, it seems at this moment they want to be hands off and let the startup do its thing. And that could be a win for big business, small business and eventually consumers.