REGENT has raised $240 million in a Series B funding round to accelerate manufacturing of its Viceroy and Squire Seaglider vessels.
The investment comes ahead of the first crewed flight of REGENT’s Viceroy prototype and the start of manufacturing operations at its 23,700 sqm Seaglider Manufacturing Facility in Rhode Island, US.
The funding comprises an equal mix of equity and debt, with the equity round co-led by Mare Liberum and AE Ventures and debt capital provided by Erebor Bank. The company has now raised $340 million across equity and debt.
REGENT has also secured an expanded $15 million US Marine Corps contract for the Viceroy platform, while its autonomous Squire platform has been demonstrated for military applications.
The company says it has a commercial order book spanning six continents and has booked multiple years of manufacturing capacity. It also recently announced a deal with Mitsui O.S.K. Lines (MOL), Japan Airlines (JAL) and Lloyd’s Register (LR) to jointly work on a project to commercialise Seaglider in Japan.
“This investment marks a critical inflection point for REGENT as we move from development into production,” said Billy Thalheimer, co-founder and CEO of REGENT.
“We have built significant momentum across both our defence and commercial pipelines, and this funding enables us to scale manufacturing, execute key certification milestones, and deliver Seagliders to customers.”
REGENT is also working with the Strategic Development Fund in Abu Dhabi on planned Seaglider operations and future manufacturing in the UAE, while partnerships with Balnord in Poland and iGrow in Greece target defence and commercial markets respectively.
The Viceroy is designed as a crewed high-speed hydrofoiling wing-in-ground-effect vessel, while the Squire is an autonomous variant developed for defence applications.
