North Kingstown, Rhode Island-based REGENT has raised $240 million in Series B funding, an equal mix of equity and debt, the company said on August 27. Mare Liberum and AE Ventures co-led the round. Erebor Bank provided the debt. The financing takes REGENT to $340 million raised to date.

New investor DCVC joined existing backers Founders Fund, Caffeinated Capital, Lockheed Martin Ventures, Japan Airlines, and Giant Step Capital. REGENT also pointed to international partners tied to the raise, including Abu Dhabi's Strategic Development Fund, Poland's Balnord, and Greece's iGrow.

REGENT builds Seagliders, electric wing-in-ground-effect vessels that operate just above the water. They are designed to take off and land like boats and cruise at aircraft-like speeds using existing docks. The first passenger model, Viceroy, is a 12-seat prototype. Squire is an unmanned Seaglider aimed at defense and other uncrewed missions. A larger passenger model, Monarch, is also in the company's product family.

The company said the capital is meant to move REGENT from development into production. Near-term milestones include the first human flight of the Viceroy prototype, the start of production at a newly completed 255,000-square-foot plant in Rhode Island, and certification work. Co-founder and chief executive Billy Thalheimer called the raise "a critical inflection point" and said the money will help REGENT scale manufacturing and deliver vehicles to customers.

On the commercial side, REGENT says its order book spans six continents and already accounts for multiple years of factory capacity. The Twenty Five is the company's first U.S. delivery and launch partner. On the defense side, REGENT cited an expanded U.S. Marine Corps contract for Viceroy, valued at $15 million, and rising interest in Squire after recent demonstrations.

The investor mix matches that dual path: maritime and aerospace funds on the equity side, plus debt from a bank that has framed the deal as industrial-base financing. REGENT also said the round supports an expanding international presence and early operations and future manufacturing work in the United Arab Emirates.

The next public tests are operational. REGENT still has to fly Viceroy with people aboard and turn a large backlog into delivered boats from the Rhode Island factory.