Terrafugia, a Woburn, MA-based company out to make the first practical flying car, has landed a $2 million equity offering from 20 investors, an SEC filing shows. CEO Carl Dietrich said the funding represents the company’s Series B round, and will go to developing the next generation of its flying car, which it will publicly discuss in late July. We covered Terrafugia in March when it held an event to update local stakeholders on its plans, and expressed the possibility of moving its production out to Kentucky, Ohio, or Michigan. Dietrich said today that the company is still exploring potential manufacturing locations, and that Massachusetts is not out of the running.
Author: Erin Kutz
Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.
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