REGENT closes $240M Series B to scale seaglider manufacturing in Rhode Island and expand to Abu Dhabi

REGENT closes $240M Series B

REGENT makes seagliders — electric vessels that fly a few feet above the water surface, certified under Coast Guard jurisdiction as boats rather than aircraft. Billy Thalheimer, the company's founder, says the distinction matters operationally: pilots aren't required, the controls are boat controls only (left, right, fast, slow), and the certification path is significantly shorter than for aircraft.

The $240M Series B is the headline, but the more telling commercial signal is the deposit structure. REGENT has roughly $10 billion in commercial backlog, backed by over $10 million in nonrefundable deposits already in the bank. On the defense side, orders have reached $20 million, primarily with the Marine Corps, with Thalheimer flagging "really big announcements on the horizon." The company is at 120 people and expects to grow quickly now that the round is closed.

“We just wrapped up our $240,000,000 Series B. So that's the big news lately... We have about 10,000,000,000 in the backlog there... firm orders, nonrefundable deposits... we have over 10,000,000 in the bank now that are backing our backlog... on the defense side, up to about 20,000,000 in orders, majority with the Marine Corps.”

Manufacturing

REGENT's factory in Rhode Island spans 250,000 square feet and is set to produce two seaglider variants: the larger Viceroy and the smaller Squire. The Series B funds scaling that facility. A joint venture manufacturing center in Abu Dhabi is already in planning, driven by the size of the international backlog, which Thalheimer says is larger than the domestic one.

Powertrain

The commercial product runs on batteries and achieves roughly 180 miles of range, suited for regional coastal routes. The defense version takes a different approach: about 20% of battery capacity is retained for takeoff and landing, with a fuel engine system filling the rest of the airframe. That hybrid configuration extends range to approximately 1,600 statute miles, enough to operate across the Indo-Pacific between Guam and the first island chain.

The dual-use design is deliberate. Thalheimer's goal is maximum parts overlap between commercial and defense variants, essentially the same SKU coming off the same production line, with the powertrain configuration swapped at build time.

Market

Thalheimer's commercial pitch rests on a number most Americans don't know: there are roughly as many ferry passengers globally per year as airplane passengers. REGENT's likely US launch routes include Miami to West Palm and The Bahamas, New England coastal routes, Hawaii, and the Pacific Northwest. Internationally, the Mediterranean, Japan, and Pacific island chains are the priority markets. The Gulf is significant on both counts, with the Abu Dhabi manufacturing JV doubling as a commercial beachhead for high-traffic routes like Dubai to Abu Dhabi.

Safety and certification

Thalheimer draws a hard line on certification standards, contrasting REGENT's approach with what he witnessed at an air show in the Middle East, where a drone fell out of the sky during a live competition. He was standing next to Archer Aviation CEO Adam Goldstein at the time. His view is that the industry's credibility depends on aerospace-grade safety standards, and that shortcuts by other players create risk for everyone operating in the space.