Some £40,000 of the money comes from a consortium of business angels who are members of the Thames Valley Investment Network. The investor consortium is led by amateur pilot Tony Carter, who has jointed RocketRoute’s board as a non-executive director.
The remainder of the investment is from two high net worth individuals.
The cash will help the Surrey-based company commercialise its service, which is billed as a TomTom for the flight navigation market and is designed to help commercial and private jet operators plan routes.
Kurt Lyall, who co-founded RocketRoute together with colleagues Justin Coelho, Uwe Nitsche and Mike Flynn, says, ‘We want to give every pilot a flight planning experience that matches the quality enjoyed by the most advanced airlines operating their own flight planning team. We are doing this using internet economics at a low price and challenging today’s market perception.’
Business segments to be targeted by RocketRoute include companies involved in business charters, air taxis and small airlines.
Keystone Law advised on the deal.