ZeroAvia, a hydrogen-based aviation solutions developer, has closed its Series C funding round, raising a total of USD 116 million. The round was co-led by Airbus, Barclays Sustainable Impact Capital, and NEOM Investment Fund (NIF), with the UK Infrastructure Bank joining as a cornerstone-level investor. This brings the company's total funding to USD 256.7 million.

The funds raised in this round will propel ZeroAvia toward certification of its first engines and further R&D aimed at improving its propulsion technology for larger aircraft.

Analyst QuickTake: In September 2023 , ZeroAvia completed an undisclosed funding round that was led by Airbus, Barclays Sustainable Impact Capital, and NEOM. The company intended to use the funds to push toward certification of its first hydrogen-electric engine, known as “ZA600.” Following the completion of the first stage of flight testing with the product, ZeroAvia is now aiming to commercialize the product in 2025.