Heart Aerospace relocates HQ to Los Angeles, closes Sweden operations
Heart Aerospace is relocating its headquarters from Gothenburg to Los Angeles, citing a need to focus on the US market. The move means the company will close its Swedish operations.<br><br>"We see greater opportunity in focusing our resources here," says Anders Forslund, co-founder and CEO of Heart Aerospace, regarding the move.
Swedish impact firm Heart Aerospace, which is developing hybrid-electric aircraft, says the move to Los Angeles is part of a strategy to focus on product development in the US. The company is preparing for experimental flights of its Heart X1 prototype, with a maiden flight scheduled for 2025.
The company says it will close its operations in Sweden to enable a bigger scale-up of the US-based team.
"We are deeply grateful to our team in Sweden for being part of this chapter of Heart’s journey, and for all the support we have received in Sweden," says Anders Forslund, co-founder and CEO of Heart Aerospace. "However, as our customers, partners, and investors are increasingly based in the US, we see greater opportunity in focusing our resources here."
Funding from Bill Gates
The company, which was founded in 2018, secured a $107 million Series B round in 2024 from, among others, Microsoft founder Bill Gates' Breakthrough Energy Ventures, the EIC fund and EQT Ventures. It says it also just recently secured additional $40 million investment.
The company says it will focus on developing key technologies in-house, including batteries, actuation systems, software, and hybrid-electric hardware.
"Our move to Los Angeles marks a new chapter in Heart Aerospace’s journey – one that prioritises iterative development and deeper vertical integration," Forslund says.
Firm support for staying in Sweden
Sweden's Infrastructure Minister Andreas Carlsson (KD) has previously expressed firm support for the company. When he attended a demonstration that Heart Aerospace held in Gothenburg last year, he conveyed the government's keen interest in ensuring Heart Aerospace's production would be located in Sweden.
Subscribe to Europe's new platform for impact news
- Quality journalism, interviews, investor profiles and deep-dives
- Join 11 000+ top impact founders and investors across Europe
- Or get our free daily newsletter
Keep reading – get in the loop!
- Håll dig i loopen med vårt dagliga nyhetsbrev (gratis!)
- Full tillgång till daglig kvalitetsjournalistik med allt du behöver veta inom impact
- Affärsnätverk för entreprenörer och investerare med månatliga meetups
Fortsätt läsa – kom in i loopen!
- Håll dig i loopen med vårt dagliga nyhetsbrev (gratis)!
- Full tillgång till daglig kvalitetsjournalistik med allt du behöver veta inom impact
- Affärsnätverk för entreprenörer och investerare med månatliga meetups
