Fenwick & West represented Karem Aircraft, Inc., a Vertical Takeoff and Landing (VTOL) vehicle developer, in its $25 million Series A financing led by Hanwha Systems.
Karem Aircraft announced a new spin-off venture dedicated to bringing its all-electric air taxi vehicle, Butterfly, to market. The new venture continues Karem Aircraft’s partnership with Uber for the development and deployment of its eVTOL technology for aerial ridesharing. More information about Karem Aircraft’s $25 million Series A financing can be obtained from the company press release.
The Fenwick transaction team was led by corporate lawyers Michael Esquivel, Jordan Roberts, Malcom Katz and Alex Petersen; and technology transactions lawyers Stefano Quintini, Arjun Ravi and Albert Tawil.