ICON Aircraft Raises $25M

Manhattan Beach-based ICON Aircraft, which is developing sport aircraft, said today that it has raised $25M in a funding round. The firm said the financing came from investors Satyen Patel and Bart Becht, along with Google Chairman Eric Schmidt, Phil Condit, the former CEO of Boeing, and un-named, Silicon Valley venture capitalists. The funding is divided into an initial, $15M tranche with a $10M option. ICON Aircraft is headed by Kirk Hawkins. Patel and Becht both join the firm' sboard. Patel is head of NIKE in Asia, Becht is CEO of Reckitt Benckiser. More information »