US Startup Poseidon Aerospace Raises $60 Million Series A to Develop Pilotless Large Cargo Drone
US startup Poseidon Aerospace completed a $60 million Series A round led by TQ Ventures to fund the development and testing of Egret, an autonomous cargo aircraft with a 50-foot wingspan and 4,000-pound payload capacity.
US aerospace startup Poseidon Aerospace announced it has closed a $60 million Series A financing round led by TQ Ventures. The funds are dedicated to supporting the development of Egret, an autonomous cargo aircraft currently under construction by the company.
Egret is a uniquely designed unmanned freighter featuring a 50-foot wingspan and a payload capacity of up to 4,000 pounds. Unlike conventional cargo planes adapted from passenger or piloted designs, Egret was conceived without a cockpit, dedicating all internal space to cargo rather than flight controls and pilot accommodations. This design choice aims to reduce weight and maximize freight volume.
The project is led by David Zagaynov, a former Amazon engineer specializing in logistics, and Parker Tenney, a mechanical engineer previously at Lockheed Martin. Zagaynov describes the concept as "the autonomous trucks of the sky," intended to move shipments between locations as cheaply as possible. Although there is no human pilot onboard, initial testing involves remote operators managing flight via live camera feeds and ground control stations.
Key performance metrics such as range, cruising speed, fuel consumption, and operating costs have not been disclosed, meaning actual freight efficiency remains unknown pending upcoming test flights in Oregon. This financing highlights continued investor interest in large-scale autonomous aviation logistics, though commercial viability depends on future technical validation and regulatory approvals.