Friday, May 25, 2012

SurfAir Closing In On $14M Funding, Says Report

Santa Monica-based SurfAir, the startup airline headed by Wade Eyerly which is part of the Muckerlab accelerator, is closing in on $14M in its first funding round, according to reports today. The firm--which has been seeing intense interest from investors since both the recent MuckerLab demo day and Jason Nazar's LA Demo Day--apparently has significantly boosted its target for its ongoing funding round. SurfAir has been among the favorites of the huge, overflow, standing room only crowds at MuckerLab's demo day, and from the public LA Demo Day earlier this month. SurfAir is developing a subscription-based airline, which flies people between Santa Monica and Palo Alto, as well as Santa Barbara and Monterey, for a fixed monthly subscription fee. The firm is hoping to take advantage of regional airports and commuter planes to carve a niche into the air travel market, for extremely frequent travelers between the cities. The firm has not confirmed the report from PandoDaily.