Private Air New York Magazine
Issue link: https://privateair.uberflip.com/i/767256
www.privateairny.com Private Air New York | Winter 2016 34 AVIATION startengine.com/startup/xti), to raise $50 million, and Primary Capital LLC (Wall Street investment bank) to lead XTI's $20 million Series B round for accredited investors only. All proceeds from both are being applied to the first piloted flying prototype of the TriFan 600. "Each member of our executive team has developed new aircraft successfully during our careers," says Brody. "For example, our CEO, Charlie Johnson, was the president and COO of Cessna Aircraft Corporation for many years. Also, I founded another aircraft company ten years ago, AVX Aircraft Company, and AVX is now part of a Northrop Grumman team developing a fantastic VTOL drone for the Navy, which will fly next year." e XTI Aircraft Company sees the future challenge of commuting in overcrowded areas as almost solved. Brody believes that travel from door-to-door locations around the world where it's safe and legal to land and take off, including 5,000 helipads in the US alone, any other paved surface, job site, golf course, and helipad on your yacht, will be made easier with the TriFan 600. Luxury resorts will offer their guests door-to-door air transportation (up to 1,600 miles) by picking them up in their back yard and taking them directly to the helipad at the resort. In addition, XTI will offer purchasers of the TriFan 600 custom-made helipads and hangars for their home or business. New technologies are constantly changing, rearranging, updating, and improving the way we travel. Using existing, proven technologies in its design, the TriFan 600 is destined for transforming air travel the way Uber has transformed and disrupted the taxi industry. "So the path is here already, which means that we will see the TriFan in commercial use before we will see driverless cars and delivery drones become a part of our everyday life," says Brody. And it will be here quicker than we think. "We're now working on our first prototype of the TriFan 600, which we plan to fly in about two years from now, subject to raising the necessary funds."