Exosonic Ceases Operations Amid Funding Challenges

According to TechCrunch, Exosonic, a startup focused on developing supersonic commercial air travel and unmanned aerial vehicle (UAV) technology, has announced its closure after five years in operation. The company cited its inability to gain sufficient traction as the primary reason for winding down. Despite the founders' belief in the potential for quiet supersonic flight and supersonic drones for the U.S. Department of Defense, the lack of customer support has hindered further advancements. Exosonic was founded in 2019 by Norris Tie, a propulsion engineer with experience at major aerospace companies like Northrop Grumman and Lockheed Martin, where he contributed to NASA's low-boom X-59 aircraft project. Exosonic was part of Y Combinator’s Winter 2020 cohort and successfully raised over $4.5 million from venture investors, including Soma Capital, Psion Capital, and Stellar Solutions. The startup also secured several small grants from the U.S. Air Force through its Small Business Innovation Research (SBIR) program. Earlier this year, Exosonic achieved a significant milestone by conducting a test flight of its first aircraft, a subscale version of its supersonic UAV named EX-3M Trident, in California. The company was also working on two other projects: a supersonic airliner called Horizon and a larger UAV named Revenant. The closure of Exosonic highlights the challenges faced by defense technology vendors in bridging the gap between research and development and commercialization, often referred to as "the valley of death." This period is notorious for its difficulties, particularly for companies aiming to sell to the Department of Defense. While venture capitalists have expressed interest in supporting such ventures, the necessary backing was not forthcoming for Exosonic. The company stated on LinkedIn that without further government support for its supersonic UAV development, it could not sustain the capital required to advance its concepts. TechCrunch has reached out to Norris Tie for further comments and will provide updates if he responds.