CEO, OVERAIR, SANTA ANA
Head of upstart aerospace firm looking to build an electric air taxi for urban areas. Company’s initial six-seat, Butterfly electric vertical takeoff and landing (eVTOL) vehicles are expected to be significantly quieter than typical helicopters, and as efficient as fixed-wing airplanes in forward flight. They’re being designed to have a range of over 100 miles, the ability to recharge quickly between trips, a top speed of around 200 miles per hour, and can accommodate five passengers plus a pilot.
THEN: Overair’s technology has been in development since 2004, under parent company Karem Aircraft of Lake Forest. The consumer-focused business was split off at the start of 2020 from Karem Aircraft— founded by legendary Predator drone designer Abe Karem—to allow the Lake Forest firm to focus on its military work. Ahead of its rebranding last year, Overair raised $25M in funding, led by Korea’s Hanwha Group.
NOW: Late last year, the company signed a 109,000-square-foot lease to more than double its footprint in Santa Ana. Raised an additional $145M in funds in June, among largest funding rounds for an OC firm this year. Named a Business Journal Innovator of the Year award winner in September.
FUTURE: “We are on track to create 1,000 manufacturing and engineering jobs in Orange County over the next three years as we focus on bringing electric mobility solutions to the market,” Tigner said late last year.
IN THEIR WORDS: “There’s a group of companies that are all in a competition with each other of sorts, although I will say at least in the short term it’s far more collaborative than competitive,” Tigner said. “The potential market is much, much larger than any one company can fill.”
