Exosonic, a startup focused on developing supersonic commercial air travel and UAV technology, has announced that it will be shutting down after five years of operation. The company stated on its website that it was unable to secure the necessary support to continue its operations.
The founders and team at Exosonic still believe in the demand for quiet supersonic flight and supersonic drones, especially for the US Department of Defense. However, without additional customer support for these concepts, the company cannot sustain the financial needs to make further advancements.
Founded in 2019 by Norris Tie, a propulsion engineer with experience at Northrop Grumman and Lockheed Martin, Exosonic had made significant progress over the years. The startup participated in Y Combinator’s Winter 2020 cohort and raised over $4.5 million from investors such as Soma Capital, Psion Capital, and Stellar Solutions. Additionally, Exosonic received grants from the U.S. Air Force under its Small Business Innovation Research (SBIR) program.
One of the company’s achievements was the successful test flight of its first aircraft earlier this year, a sub-scale version of its supersonic UAV named EX-3M Trident. Exosonic was also developing a supersonic airliner called Horizon and a larger UAV called Revenant.
Despite these advancements, Exosonic faced challenges commonly known in defense technology as “the valley of death,” which is the gap between research and development and commercialization. This gap can be difficult for companies looking to sell to the Department of Defense, especially without sufficient government support in the near term.
TechCrunch reached out to Norris Tie for comment, and the story will be updated if a response is received.
As companies like Exosonic navigate the complexities of developing advanced aerospace technologies, the importance of government support and strategic partnerships becomes evident. The aerospace industry is highly competitive, and startups need a solid foundation of financial backing and market demand to succeed.
In the future, it will be interesting to see how other companies in the supersonic aircraft and UAV space learn from Exosonic’s experience and adapt their strategies accordingly. The pursuit of quiet supersonic flight and advanced drone technology continues to be a promising field, and with the right support, innovative companies can make significant strides in this sector.
