Aviation club announces $9.75 million fundraising round

Through engagement with a securities firm, a local aviation club recently announced a Series A fundraising round that is expected to bring in up to $9.75 million.  

AeroVanti Air Club, which is headquartered in both Sarasota and Annapolis, Maryland, is going through New Jersey-based firm Network1 Financial Securities Inc. for the funding. The capital infusion is expected to help scale operations, grow the company’s airline fleet and expand the destinations and flight availability. 

The club is built on a tiered membership model and competitive hourly pricing. The membership through AeroVanti includes private aviation experiences through individual-, family- and corporate-level tiers. The individual is the cheapest at $1,000 a month. This option allows members to bring up to six guests aboard each flight. The membership pricing does not include the price of each flight, which varies depending on the destination.

Using the AeroVanti website's Flight Estimator tool, a private flight through the club from the Sarasota-Bradenton International Airport to Tampa International Airport is estimated to cost $2,495. 

“Since launching last summer, we have relentlessly pursued the ultimate charter aviation experience for our members and to prove that luxury and convenience are not mutually exclusive,” says AeroVanti Founder and CEO Patrick Britton-Harr in a news release. “Amid remarkable growth, we’re always looking to enhance that travel experience. This includes our fleet and personnel expansions to acquisitions to support our increased operational efficiencies to adding more available and new destinations.”

Earlier this year in March, the club acquired Arizona-based Marjet Aviation, which expanded its fleet and roster of pilots and personnel, as well as increased its capabilities in terms of operations and logistics. That expansion included the addition of the Piaggio P.180 Avanti, which is an Italian executive transport aircraft and also the club’s namesake. This aircraft is known for reaching high speeds of up to 462 mph.