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Advanced Aircraft Company Receives Financing

2021-04-29
RICHMOND, VA, The Center for Innovative Technology today announced that CIT GAP Funds has invested in Advanced Aircraft Company.
The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has invested in Hampton, Va.-based Advanced Aircraft Company (AAC), an aeronautical engineering and aircraft manufacturing company that produces vertical takeoff and landing (VTOL) unmanned aerial systems (UAS) for military and commercial markets. AAC's long endurance drones can double revenue generated per pilot for commercial UAS operators. The company will use this investment to action on its go-to-market plan and increase aircraft production rate.

Advanced Aircraft Company (AAC) is an aeronautical engineering and aircraft manufacturing company based in Hampton, VA. AAC produces long endurance vertical takeoff and landing (VTOL) unmanned aerial systems (UAS) targeting commercial, government, and military markets. This long endurance serves our commercial customers by increasing the productivity of their pilots, which enables twice as many acres to be imaged per day, and thus twice as much revenue for similar labor costs. For more information please visit: https://advancedaircraftcompany.com/.
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