Parallel Flight Technologies

Heavy-Duty Drones

Company Information

Website:

https://www.parallelflight.com/

Sector:

Drones

Location:

La Selva Beach, CA

Most drones aren’t designed to carry heavy payloads.

But in industries where these flying machines could play a starring role — including logistics, search & rescue, and environmental protection — heavy payloads and lengthy flight times are essential.

That’s why one startup set out to create a different type of drone. The result is Parallel Flight Technologies’ patent-pending aerial vehicles.

These vehicles are equipped with Parallel Hybrid Electric Multi-rotor technology. This enables drones to carry heavy payloads for longer periods of time. This makes it ideal for use in fighting wildfires, conducting search & rescue missions, and delivering goods to customers.

Parallel Flight Technologies has begun a test program with its drones flying autonomously with payloads of up to 100 pounds. The company has received thirty Letters of Intent, which equates to sixty million dollars of potential revenue.

Team Background

David Adams - Hardware

David began his career with the U.S. Navy, serving as an engineer aboard nuclear submarines. While enlisted, he also conducted drone-related research.

After leaving the Navy, he focused his career on robotic systems integration and design. He worked in both the semiconductor fabrication industry and helped develop surgical robots.

He earned a Bachelor’s degree in Electrical Engineering from California Polytechnic State University and a Master’s degree in Electrical Engineering from San Jose State University.

Joshua Resnick - President & CEO

Before starting Parallel Flight, Joshua oversaw system architecture and electrical engineering efforts for Tesla’s semi-truck program.

Prior to that, he led state-funded research for the state of Alaska, developing hybrid electric commercial fishing boats.

He earned a Bachelor’s degree in Physics and Electrical Engineering from Worcester Polytechnic Institute, and a Master’s in Theological Studies from Hellenic College.

Bobby Hulter - Treasurer

Bobby works part-time for Parallel Flight, and will shift to full-time when the company raises sufficient capital.

In addition to this role, he works for a solar manufacturing company, focusing on developing industrial robotics systems.

He earned a Bachelor’s degree in Electrical Engineering from California Polytechnic State University.

Co-Investors

Raising
$5 million
Committed
$130.942K (3%)
Current Valuation
$175 million
Min. Investment
$497
Deal Type
Title III
(For all investors)
Offering Type
Equity
Finance History
  • $125K
    2019-08-01
    NASA
  • $1.07 million
    2020-01-14
    Unknown
  • $6 million
    2021-07-01
    Unknown
Notable Investors
Learn more on Start Engine