Avelo Airlines Raises $42 Million In Series B Funding

Published by
The Street

By PR Newswire HOUSTON, Jan. 6, 2022 /PRNewswire/ — Avelo Airlines, which became America’s newest mainline airline in nearly 15 years when it took flight last April, today announced it raised $42 million in Series B funding. This second-round offering increases Avelo’s invested capital base to over $160 million. Avelo raised approximately $125 million in January 2020. The Series B shares sold at a significant premium to the original Series A shares. “The incremental capital we’ve raised is a significant vote of confidence in Avelo’s initial momentum and the enormous opportunity ahead of us,” …

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