RocketRoute secures £220,000 of equity investment
Flight route planning company has raised funding to grow the business
Aviation navigation company RocketRoute.com has secured £220,000 of equity investment, including £40,000 from a consortium of investor members at Thames Valley Investment Network (TVIN), to take its online flight planning service to market.
Founded earlier this year, RocketRoute’s service enables pilots to generate and file flight plans within minutes, solving a time-consuming and costly problem. Pilots can log in from a computer or any internet-ready mobile phone to generate and file a route.
Founder of RocketRoute, Kurt Lyall, welcomed the new funding round: “Justin Coelho, Uwe Nitsche, Mike Flynn and I are delighted, as company founders, to have secured our start-up funding. This enables us to focus on implementing our strategy.”
RocketRoute is targeting companies involved in business charters, air taxis and airlines with a small number of aircraft.
Lyall said: “Other competitor offerings are either complex to use or too expensive. What TomTom did to the car navigation market, we would like to repeat for aviation navigation. We estimate that in Europe there are 200,000 pilots and 110,000 of these could benefit from using RocketRoute.”
Leo Dunne, investment network manager at TVIN, said: “RocketRoute impressed me with the clarity of their business concept. There appeared to be a market opportunity and the management team had the ability to communicate this effectively.
“We are confident that the team now assembled, including the new investors, will successfully grow the business.”