Swizzle Fund Raises $5 Million to Invest in Women-Focused Startups
New venture fund Swizzle Fund, founded by Jessica Kamada, raises $5 million to invest in early-stage companies addressing women's concerns in caretaking, health, and finances.
Elliot Kim
In a major milestone for the burgeoning electric vertical takeoff and landing (eVTOL) industry, the Federal Aviation Administration (FAA) has finalized rules for the integration of "powered-lift" vehicles into US airspace. This historic decision paves the way for startups like Joby Aviation and Archer Aviation to launch commercial air taxi networks in 2025.
The new rules, published on Tuesday, establish guidelines for pilot training, operating rules, and maintenance, providing a clear framework for eVTOL operators. The FAA's ruling also introduces a new type of powered-lift pilot certification and allows for the use of flight simulation training devices, increasing flexibility for operators.
The decision is a significant win for eVTOL startups, which have been working closely with the FAA since 2022 to develop these rules. Joby Aviation, which recently received a $500 million investment from Toyota, is poised to begin commercial operations once it receives type certification from the FAA.
"This ruling aligns with all the hopes that we had been designing for," said Greg Bowles, head of government affairs at Joby Aviation. "We're excited to move forward with our plans for commercial operations."
New venture fund Swizzle Fund, founded by Jessica Kamada, raises $5 million to invest in early-stage companies addressing women's concerns in caretaking, health, and finances.
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