Startup building unmanned cargo planes raises $60 million

Poseidon Aerospace raised $60 million in a Series A funding round led by TQ Ventures to develop its Egret unmanned cargo aircraft. The company was valued at about $350 million in the transaction. Egret is planned as a roughly 50-foot-span aircraft capable of carrying several tons for military contested logistics and commercial freight, with a first flight targeted for late 2026. The investment finances development and testing; payload, schedule, unit economics and operational suitability remain projections until a full-scale vehicle flies on the targeted schedule.