Singapore-based startup FlyORO, a champion of sustainable aviation fuel (SAF), has successfully secured USD 1.6 million in its pre-Series A funding round. Led by Audacy Ventures, the round saw participation from Asia-Pacific VC Investible and additional private investors. This injection of capital fuels FlyORO’s mission to decarbonize the aviation industry and make sustainable flying a reality.
Investing in Sustainable Skies:
Driven by CEO Jonathan Yeo, FlyORO’s innovative model provides airlines with a modular, on-demand blending service of SAF and conventional jet fuel. This empowers airlines to tailor their sustainability efforts to specific flights, rather than being restricted by fixed blend ratios and upfront bulk commitments.
FlyORO’s tech solution offers several advantages:
- Flexibility: Airlines can choose the exact percentage of SAF for each flight, aligning with their sustainability goals and passenger preferences.
- Accessibility: The company’s compact, 40ft blending unit requires minimal space and is easily deployable at airports or off-site locations.
- Efficiency: FlyORO simplifies the SAF supply chain for airport fuel operators, enabling them to cater to airlines more effectively.
Fuelling International Expansion:
FlyORO plans to utilize the newly raised funds to accelerate ongoing projects and drive international expansion. The company’s initial focus will be on strategic initiatives in Australia and the United States, partnering with airlines and stakeholders to make sustainable aviation fuel a more accessible and affordable option.
A Shot in the Green Arm:
“SAFs play an essential role in our global efforts to decarbonize the aviation industry,” said Toby Chan, co-founder and partner of Audacy Ventures. “We are excited to back the FlyORO team in becoming an innovative enabler to the SAF supply chain and assist in scaling their modular on-demand blending solution internationally.”
By harnessing technology and a flexible approach, FlyORO is taking ambitious strides towards greener skies. As the demand for sustainable travel soars, FlyORO’s innovative services stand to propel the aviation industry onto a cleaner, more responsible path.
Deal Room Table:
| Key People | Investors (Lead/Participating) | Amount Invested | Sector | Funding Round |
|---|---|---|---|---|
| Jonathan Yeo (CEO) | Audacy Ventures (Lead), Investible, Private Investors | USD 1.6M | Cleantech, Aviation | Pre-Series A |
