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Wave Function Ventures Invests in Natilus Blended-Wing-Body Aircraft

Wave Function Ventures invests in Natilus to support BWB aircraft development, including Kona cargo and Horizon passenger models with strong order backlog.

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This article is based on an official press release from Wave Function Ventures and Natilus, with additional context from company reports.

Wave Function Ventures Backs Natilus to Accelerate Blended-Wing-Body Aircraft Development

On February 17, 2026, Wave Function Ventures® (WaveFx®) announced a strategic investment in Natilus, the San Diego-based aerospace company designing Blended-Wing-Body (BWB) aircraft. This capital injection is part of Natilus’s Series A funding round, which has raised approximately $28 million to date under the leadership of Draper Associates.

The investment signals growing confidence in hardware-focused “Deep Tech” solutions for aviation sustainability. According to the announcement, the funding will support the manufacturing of Natilus’s regional cargo-aircraft prototype, the Kona, and advance the engineering of its passenger program, the Horizon. By moving away from the traditional “tube-and-wing” design, Natilus aims to deliver aircraft that offer significantly higher internal volume and fuel efficiency while utilizing existing airport infrastructure.

Strategic Investment in Sustainable Aviation

Wave Function Ventures joins a syndicate of investors including Flexport, Type One Ventures, The Veteran Fund, and New Vista Capital. The firm, known for its “atoms over bits” investment thesis, focuses on engineering-led startups solving physical-world problems in aerospace, defense, and energy.

Al Peters, Founder of Wave Function Ventures, emphasized the pragmatic nature of the Natilus design in a statement regarding the investment:

“We see an incredible convergence. It’s smart engineering that helps the planet by cutting emissions while integrating into existing airport infrastructure. Our investment in Natilus supports founders building technology that makes a real difference.”

The partnership aligns with the broader industry push to decarbonize. Aviation currently contributes approximately 3% of global COâ‚‚ emissions, and traditional airframe designs have reached a plateau in efficiency gains. Natilus claims its BWB architecture can reduce emissions by 50% and fuel consumption by 30% compared to current aircraft.

The Blended-Wing-Body Advantage

The core of Natilus’s innovation is the Blended-Wing-Body design, where the fuselage and wings merge into a single lifting body. This configuration reduces aerodynamic drag by roughly 30% and provides 40% more cargo volume than traditional aircraft of the same weight class.

Aleksey Matyushev, CEO of Natilus, highlighted the company’s modern approach to development:

“Our digital-first engineering approach reduces reliance on costly prototypes without compromising safety. We’re not just designing aircraft, we’re future-proofing logistics.”

Aircraft Program Specifications

According to company data, Natilus is developing two primary aircraft models to address different segments of the market:

  • Kona (Cargo): A regional, autonomous/remote-piloted freighter designed for feeder routes. It features a payload capacity of 3.8 metric tons and a range of 900 nautical miles. A full-scale prototype flight is expected within approximately 24 months (circa 2028).
  • Horizon (Passenger): A commercial airliner targeting the segment currently served by the Boeing 737 and Airbus A320. It is designed to carry approximately 200 passengers in a dual-deck configuration (passengers on top, cargo below) and is targeted for service entry in the early 2030s.

Natilus reports significant commercial traction for these models, citing an order backlog of over 570 aircraft valued at more than $24 billion. Commitments have been secured from major operators including Ameriflight, Volatus Aerospace, and Flexport.

AirPro News Analysis

The “Step-Stone” Strategy to Certification
The investment by Wave Function Ventures highlights a critical strategic differentiator for Natilus: the decision to prioritize an uncrewed cargo aircraft (Kona) before attempting a passenger liner. By validating the BWB airframe in the cargo market, where regulatory hurdles for autonomy and new airframes may be navigated differently than in passenger travel, Natilus can generate revenue and flight data to de-risk the larger Horizon program.

Infrastructure Compatibility
One of the historical barriers to BWB adoption has been airport compatibility. Radical new shapes often require new gates or hangars. However, Natilus has explicitly engineered its fleet to fit existing gates and maintenance facilities. This “drop-in” capability is likely a key factor driving the $24 billion backlog, as it allows operators to adopt the technology without lobbying for massive infrastructure overhauls at major hubs.

Frequently Asked Questions

What is a Blended-Wing-Body (BWB) aircraft?
A BWB is an aircraft design where the wings and body are merged into a single lifting shape. This differs from the traditional “tube-and-wing” design (a cylinder with attached wings) and offers superior aerodynamics and internal volume.

Who are the key investors in Natilus?
The Series A round was led by Draper Associates. Other key investors include Wave Function Ventures, Flexport, Type One Ventures, The Veteran Fund, and New Vista Capital.

When will Natilus aircraft fly?
The Kona cargo prototype is expected to fly by approximately 2028. The Horizon passenger aircraft is targeted for service entry in the early 2030s.

Is the Natilus Kona autonomous?
Yes, the Kona is designed as a regional autonomous or remote-piloted freighter, intended to serve feeder cargo routes.

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Photo Credit: Wave Function Ventures

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Sustainable Aviation

KBR PureSAF Technology Selected for Kazakhstan First SAF Plant

KBR licenses PureSAF technology for Kazakhstan’s first SAF facility, using an alcohol-to-jet process with domestic feedstocks.

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Global engineering firm KBR announced on August 24, 2026, that it secured a contracts to license its proprietary PureSAF technology and provide engineering design for Kazakhstan’s inaugural Sustainable Aviation Fuel (SAF) production facility. The project, developed in partnership with KazMunayGas-Aero LLP (KMG-Aero) and KazFoodProducts (KFP), will utilize domestic agricultural feedstocks to produce low-carbon aviation fuel via an alcohol-to-jet (AtJ) process.

In a press release detailing the contract award, KBR confirmed the agreement supports Kazakhstan’s strategic objective to establish itself as an international aviation hub while advancing aviation decarbonization. The planned facility will leverage technology developed in collaboration with Swedish Biofuels AB to convert ethanol into drop-in aviation fuel.

Technology and Project Scope

The facility will utilize KBR’s PureSAF technology, an alcohol-to-jet pathway designed to process agricultural feedstocks into sustainable aviation fuel. The foundational trilateral agreement covering the Process Design Package (PDP) and technology licensing was signed by KBR, KMG-Aero, and KFP in Astana on July 23, 2026. KBR, which employs approximately 37,000 people and operates in 28 countries, will provide the engineering framework required to scale the AtJ process for commercial output.

KBR Sustainable Technology Solutions President Jay Ibrahim stated the company is honored to support the national commitment to reduce greenhouse gas emissions.

“KBR’s PureSAF is a feed-flexible, bankable technology that is designed to deliver high SAF yields and supports the project across the full lifecycle. We look forward to closely collaborating and supporting the successful execution of this landmark SAF project,” Ibrahim said.

Kazakhstan’s Aviation Decarbonization Strategy

The KBR contract follows a series of government initiatives aimed at building a domestic SAF supply chain. On August 4, 2026, Kazakh Prime Minister Olzhas Bektenov and Dr. Peter Lee of Hong Kong-based Full Vision Capital signed a memorandum of understanding to explore creating a green aviation fuel ecosystem in the city of Alatau. This proposed ecosystem would cover the full production cycle, from cultivating agricultural feedstock to manufacturing the finished product.

These infrastructure investments align with recommendations from global aviation regulators and industry groups. In April 2026, the International Air Transport Association (IATA) emphasized that continued investment in SAF, alongside new airport infrastructure, is critical for Kazakhstan to capitalize on global passenger and cargo traffic and strengthen its domestic aviation sector.

AirPro News analysis

The KBR contract award represents a concrete technical step in Kazakhstan’s ambition to localize SAF production, but several commercial variables remain undefined. The August 24 announcement did not disclose the financial value of the engineering contract, the projected production capacity of the facility, or a target completion date. We note that while the alcohol-to-jet pathway is a proven method for SAF production, scaling agricultural feedstock supply-chain domestically will be critical to the plant’s long-term viability. The parallel involvement of Full Vision Capital suggests the government is actively working to finance and structure this agricultural supply chain in the Alatau region to ensure the KBR-designed facility has the necessary inputs to operate at scale.

Sources: KBR

Photo Credit: Montage

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Technology & Innovation

Boeing and GM Complete Sale of HRL Laboratories to IBM

Boeing and GM finalized the sale of HRL Laboratories to IBM on August 25, 2026, supporting Boeing’s refocus on core aerospace operations.

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The Boeing Company and General Motors Company have finalized the sale of their jointly owned research facility, HRL Laboratories, to International Business Machines Corporation (IBM), a divestment that allows the aerospace and automotive manufacturers to redirect resources toward their primary industrial operations.

The transaction transfers ownership of the Malibu, California-based research center, which Boeing and GM previously held in a 50/50 joint venture. The companies initially announced the acquisition agreement on July 23, 2026. Boeing and GM confirmed the completion of the sale in a press release on August 25, 2026, followed by IBM’s official confirmation on August 26. Financial terms of the Acquisitions were not disclosed.

Strategic realignment for Boeing and GM

For Boeing, the sale of HRL Laboratories aligns with a broader corporate Strategy to streamline operations and concentrate capital on its core commercial airplanes, defense, and space divisions. HRL Laboratories was founded in 1948 and has historically provided advanced physical science and engineering research for its parent companies.

In a joint statement, Boeing and GM indicated that they will maintain a working relationship with the laboratory under its new ownership to support their respective technological needs.

“Since its founding in 1948, HRL Laboratories has been a leader in pioneering work in physical science and engineering, and we look forward to IBM building on this legacy. While Boeing and GM will continue to partner with IBM and HRL on quantum applications and advanced technology development, our companies will focus our resources on our respective core businesses and delivering the programs and services necessary to meet our customers’ evolving needs.”

IBM accelerates quantum hardware roadmap

The acquisition provides IBM with HRL’s expertise in silicon-spin qubits, quantum sensing, and advanced materials. IBM plans to integrate these technologies into its dual-track hardware strategy, combining its existing superconducting circuits with HRL’s silicon quantum dot research.

This integration supports the development of the IBM Quantum Starling, a fault-tolerant quantum computer projected to perform 100 million quantum operations by 2029.

Jay Gambetta, Director of Research and IBM Fellow, noted in a company statement that the HRL team brings a broad portfolio of technologies that will strengthen IBM’s long-term plans to deliver useful quantum computing. Gambetta stated the acquisition brings together advances across quantum computing, sensing, and networking.

Rob Vasquez, President and Chief Executive Officer of HRL Laboratories, described the acquisition as the natural next chapter for the facility, noting the team’s dedication to exploring how future quantum computers could be built at unprecedented scales.

AirPro News analysis

We view Boeing’s divestment of HRL Laboratories as a pragmatic step in its ongoing effort to stabilize and refocus its core aerospace Manufacturing businesses. While quantum computing and advanced materials research hold long-term promise for aerospace applications, maintaining a 50 percent stake in a dedicated research laboratory requires capital and management bandwidth that Boeing currently needs for its Commercial-Aircraft production and certification programs. By transitioning from an owner to a partner, Boeing retains access to HRL’s quantum advancements without the financial overhead of managing the joint venture.

Sources: The Boeing Company

Photo Credit: HRL Laboratories

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Technology & Innovation

Archer Aviation and AEG to Build eVTOL Vertiport at LA LIVE

Archer Aviation and AEG announce a multi-year partnership to develop an eVTOL vertiport at LA LIVE ahead of the 2028 Olympics.

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Archer Aviation Inc. and Anschutz Entertainment Group (AEG) have established a multi-year partnerships to construct a dedicated vertiport for electric vertical takeoff and landing (eVTOL) aircraft at the L.A. LIVE district in downtown Los Angeles.

Announced in an August 24, 2026 press release, the agreement establishes Archer as the exclusive air taxi partner for the 4 million-square-foot sports and entertainment complex. The project serves as a central node for Archer’s planned Southern California network, targeting operational readiness ahead of the 2028 Olympic and Paralympic Games.

Infrastructure and Network Expansion

The two companies have completed an initial feasibility study for the L.A. LIVE site. This assessment evaluated land-use requirements, airspace integration, power availability, and community impact. The project has now advanced to a secondary phase focused on operational procedures and passenger experience.

To support flight operations, the facility will incorporate electric aviation chargers manufactured by BETA Technologies. This hardware integration aligns with the Advanced Air Mobility (AAM) industry’s ACES consortium, which aims to standardize charging infrastructure across different eVTOL platforms.

The downtown location will connect to a broader regional network. According to reporting by Aviation International News, Archer’s Los Angeles architecture includes a central operational hub at the newly acquired Hawthorne Municipal Airport (KHHR). Additional planned nodes include Los Angeles International Airport (KLAX), Hollywood Burbank Airport (KBUR), John Wayne Airport (KSNA), SoFi Stadium, and the University of Southern California. Pollstar News reports that passenger travel times across this network are estimated between 10 and 20 minutes.

Aligning with the LA28 Games

The vertiport development is closely tied to the upcoming LA28 Olympic and Paralympic Games. The Downtown Los Angeles Zone is scheduled to host 18 Olympic and Paralympic sports, positioning L.A. LIVE adjacent to Crypto.com Arena and the Los Angeles Convention Center as a high-traffic transit corridor. Archer previously secured the designation of Official Air Taxi Provider for the LA28 Games and Team USA.

Archer Founder and CEO Adam Goldstein highlighted the strategic timing of the infrastructure build.

“Working with AEG on an iconic project like this vertiport at L.A. LIVE gives us the opportunity to continue building the infrastructure needed for Southern California to lead in the next era of all-electric flight. We see this as a one-of-a-kind opportunity to add a flagship downtown location to our planned Los Angeles air taxi network ahead of the LA28 Games.”

AEG Global Partnerships President and Chief Operating Officer Nick Baker stated the collaboration blends infrastructure and technology to serve event attendees and the broader community.

Unconfirmed Site Details

While the partnership is confirmed, specific logistical details remain undisclosed. Aviation International News noted that the exact footprint of the vertiport within the L.A. LIVE campus has not been specified. Potential locations could include existing parking structures, including one with a 100,000-square-foot rooftop deck, though neither Archer nor AEG has verified a specific location. Funding structures, ownership models, and specific operational responsibilities for the vertiport also remain unannounced.

AirPro News analysis

Securing viable takeoff and landing real estate in dense urban centers remains one of the highest barriers to entry for the AAM sector. By partnering directly with AEG, Archer bypasses several municipal land-acquisition hurdles, leveraging existing private commercial space in a highly regulated downtown corridor. The decision to install BETA Technologies chargers is equally significant. We view this hardware choice as a pragmatic step toward interoperability, ensuring the site can potentially service mixed fleets in the future rather than operating as a closed ecosystem. The success of this node will likely depend on local airspace deconfliction over downtown Los Angeles and the finalization of high-capacity grid connections required for rapid turnaround times.

Sources: Archer Aviation

Photo Credit: Archer Aviation

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