Elroy Air to merge with Columbus Circle Capital for $1B
Business
Elroy Air, the company behind those heavy-lifting cargo drones, just announced it's going public by merging with Columbus Circle Capital Corp II.
The $1 billion deal could bring in up to $230 million for Elroy, depending on how many investors stick around.
If all goes as planned, you'll see them trading on Nasdaq under ELRY by late 2026.
Elroy Air accelerating drone development
With this new funding, Elroy wants to speed up work on its autonomous cargo drones, which are being built for everything from defense, rapid response, and commercial logistics.
They're also planning to hire more engineers and make some strategic acquisitions to help grow even faster.