Surf Air Mobility, Palantir form JV for AI aviation platform; targets $5M+ raise

SURF AIR MOBILITY INC.

Entered JV agreement on Aug 9, 2024 to form Surf Air Technologies LLC for AI-powered aviation software.
Target initial outside capital raise of at least $5 million; closing expected by Nov 30, 2024.
Surf Air will hold 4 of 5 board seats; Palantir licenses AIP/Foundry platforms to power SurfOS.
SurfOS aims to serve 1,800+ Part 135 operators and electrified aircraft OEMs in U.S. alone.
Prior partnership since 2021 drove ~25% revenue-per-trip increase in Surf Air's On Demand charter division.

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