Hanwha

  • Karem Spin-Off is Overair

    As reported previously, South Korean industrial giant Hanwha is investing $25M in a spin-off from Karem Aircraft, Inc. dedicated to bringing Butterfly, its all-electric air taxi vehicle, to market. The spin-off entity is to be named “Overair, Inc.,” though was identified as K4 Aeronautics in initial press releases. The Butterfly uses Karem’s patented high efficiency VTOL technology, and is being developed for Uber’s Elevate Initiative.

    The...

  • Hanwha Invests in Karem Butterfly

    South Korean industrial giant Hanwha announced on July 11 that it was investing $25M in a spin-off from Karem Aircraft, Inc., dedicated to bringing its all-electric air taxi vehicle, Butterfly, to market. The Butterfly is being developed for Uber Elevate and uses Karem’s Optimum Speed Rotor technology to power a vectored-thrust vehicle with four large rotors mounted on the wings and tail. Butterfly’s large, slow-turning rotors provide efficient...

  • Press release: Karem Aircraft Launches New Air Taxi Company

    Press Release:

    Karem Aircraft Launches New Air Taxi Company with $25M Series A

    Lake Forest, Calif. – July 15, 2019 – Karem Aircraft, Inc, a Vertical Takeoff and Landing (VTOL) vehicle developer, has announced a new spin-off venture dedicated to bringing its all-electric air taxi vehicle, Butterfly, to market. The new company is backed by a $25M Series A...