Supersonic Jet Startup Boom Technology Raises $50 Million

Boom Technology Inc., a Colorado-based startup working on a new supersonic aircraft, is raising a $50 million funding round that will bring the company’s valuation to more than $1 billion, according to Chief Executive Officer Blake Scholl.

The investment, led by WRVI Capital’s Michael Marks, brings Boom’s total funding to $210 million, and takes the company one step closer to its objective of broadly accessible high-speed flight.

“Our goal is to make high-speed jets the cheapest option out there,” Scholl said. Much as Tesla Inc. started with luxury automobiles and eventually produced vehicles with price points middle-class consumers could afford, Boom plans to ...