Elroy Air Announces Upsizing of PIPE Investments to $175 Million with Participation from Lockheed Martin Ventures

Elroy Air Announces Upsizing of PIPE Investments to $175 Million with Participation from Lockheed Martin Ventures

Elroy Air, a leading U.S.-based technology developer of autonomous heavy-cargo drones for defense, rapid response and commercial logistics, today announced that it has expanded its previously-disclosed PIPE commitments, increasing the total to $175 million. Existing investors including Lockheed Martin Ventures and Inflection Point participated and $75 million has now been funded prior to the closing of the Business Combination Agreement between Elroy Air and Inflection Point Acquisition Corp. VII (f/k/a Columbus Circle Capital Corp II) (Nasdaq: IPXG).