Regent flies first crewed Seaglider, then raises $240M for production

Builds all-electric 'Seagliders' that float like boats, rise on hydrofoils, then fly in ground effect to carry 12 passengers up to 180 miles at 180 mph.

That ground-effect skimmers, not eVTOLs, would win coastal travel: more efficient than ferries, cheaper than seaplanes, and regulated as boats, not aircraft.

About $340M across equity and debt: a $60M Series A (Oct 2023, Rhode Island's largest VC round) and a $240M Series B (Aug 2026, half debt, co-led by Mare Liberum and AE Ventures with Erebor Bank providing the debt).

Founded in 2020 by MIT-trained engineers Billy Thalheimer and Mike Klinker, Regent bet that the biggest unfilled mobility gap was 30–180-mile coastal hops. They chose wing-in-ground effect — flying within a wingspan of the water for extra efficiency — and framed the craft as a maritime vessel so the US Coast Guard, not the FAA, would oversee it.

A quarter-scale prototype flew in 2022; the $60M Series A in Oct 2023 funded the full-scale Viceroy, unveiled in March 2025 at 55 ft long with a 65 ft wingspan. Crewed sea trials followed; a 255,000 sq ft manufacturing facility at Quonset, Rhode Island was completed in June 2026, and an Aug 2026 Series B of $240M (half debt) brought total capital to about $340M, with Founders Fund, Caffeinated Capital and Lockheed Martin Ventures among existing investors.

On Sept 2, 2026, the Viceroy completed its first human-crewed flight over Narragansett Bay — two captains aboard, 1,956 feet at about 33 feet for roughly 30 seconds — the largest all-electric wing-in-ground-effect craft to fly with people. Regent called it the start of the final sea-trial phase before production.

Ferries are slow and seaplanes are expensive on 30–180-mile coastal routes, leaving a transport gap no single mode filled.

Ground effect adds lift efficiency near the surface, so a battery-electric craft can fly farther than an eVTOL of similar size.

Maritime classification let Regent pursue US Coast Guard oversight instead of FAA aircraft certification, shortening the path to crewed flight.

A concrete wedge — coastal passenger ferries — funded full-scale hardware: Series A in 2023, plant in 2026, crewed flight in September 2026.

Defense interest (US Marine Corps, SOCOM) adds non-commercial demand while the passenger market matures.

Regulatory classification was part of the design: by framing Seagliders as vessels under the US Coast Guard, Regent skipped FAA aircraft certification and flew crewed before most eVTOL rivals.

As of September 3, 2026, Regent is in the final phase of Viceroy sea trials before production at its 255,000 sq ft Quonset plant, with expanded flight testing and deliveries next. The order book spans six continents, led by first US launch customer The Twenty Five (up to 60 Viceroys), plus a $15M US Marine Corps contract and a SOCOM R&D pact; the autonomous Squire flew a defense-focused mission earlier in 2026. International plans cover UAE operations, Poland and Greece, all funded by roughly $340 million across equity and debt.