Elroy Air raises $175M to scale Chaparral cargo drone production

Elroy Air has expanded its PIPE commitments to $175 million, with $75 million already funded, ahead of its business combination with Inflection Point Acquisition Corp. VII. The Chaparral hybrid-electric VTOL drone carries over 500 pounds of cargo up to 450 miles without a runway.

• PIPE financing expanded to $175M, with $75M already provided
• Chaparral carries over 500 pounds of cargo up to 450 miles
• Bristow raised early delivery positions from 5 to 15 aircraft
• First production aircraft expected in late 2026