Billy Thalheimer (CEO) and Michael Klinker (CTO) of REGENT with a full-scale mockup of their first electric seaglider.
Courtesy REGENT
Regent, a startup developing electric seagliders to transport people and cargo, has raised a $60 million round of venture funding and struck a partnership with Japan Airlines to figure out how to bring the company’s flying electric ferries to the waterways of Japan.
Venture fund 8090 Industries co-led Regent’s series A round alongside Peter Thiel’s Founders Fund, with Japan Airlines Innovation Fund and Point72 Ventures also participating among others. The new funding brings Regent’s total capital raised to $90 million to-date, according to co-founder and CEO Billy Thalheimer.
The funding follows two major milestones for the clean transportation startup. As CNBC previously reported, Regent built a quarter-scale prototype and completed a series of test runs on Rhode Island’s Narragansett Bay late last year to prove that its seagliders, which are technically known as wing-in-ground-effect craft (WIGs) can “float, foil and fly” as expected.
The prototype was able to repeatedly motor out of a harbor slowly, then launch from a speed of about 40 mph into the air, where it flew around 10 feet above the open ocean at a speed of approximately 50 mph in different, travel-safe weather conditions.
The commercial version of this battery powered 12-seater, named the Viceroy, will fly higher above the water at speeds of up to 180 mph, Thalheimer says. The battery that powers the Viceroy seaglider will have a range of about 180 miles.
More recently, Regent built a full-scale mockup of the Viceroy, and a “sim room” at its headquarters where visitors can sit in a mock cockpit, and virtually fly the seaglider over any chosen waterway. Thalheimer said, “You can build as many decks or pitches as you want but this is the experience that unlocks excitement.”
Regent has built a full-scale mockup of its first electric seaglider, the 12-seat Viceroy.
Courtesy REGENT
Eventually, travelers should be able to go down to a dock and board Regent seagliders like they would a regular ferry or water taxi. Besides using these WIGs for travel in coastal communities, Regent plans to sell seagliders to organizations providing cargo transport, search and rescue, offshore logistics as well as security and defense services.
Airlines and ferry operators including Mesa Airlines, Brittany Ferries and FRS are among customers who have already signed deals to purchase Regent’s seagliders. The company says it has orders for more than 500 seagliders representing some $8 billion in future revenue. Southern Airways is poised to take the first production Viceroy, which it plans to operate under their Mokulele Airlines brand. Mokulele currently operates inter-island routes throughout Hawaii.
Regent will use its new round of funding for hiring as well as building and testing full-scale prototypes of the Viceroy, along with all the safety systems required to run the seagliders with people on board, Thalheimer says.
The company already has 55 full-time employees, the CEO said, and has managed to attract talent from the likes of SpaceX and Bureau Veritas, an international regulator of ships and vessels.
Longer term, Regent is developing a 100-seat seaglider dubbed the Monarch which is in early design stages. Including regulatory approvals, the company expects its Viceroy 12-seat seagliders to be in production and in service within two to three years. It expects the larger Monarch seagliders to be in service by 2030.
8090 Industries general partner Rayyan Islam, who co-led the series A investment in Regent, told CNBC that his firm backed the startup because of the demand for its seagliders, and the early team’s success in prototyping and proving the viability of the Viceroy.
Islam’s firm sees a new industrial revolution underway, one in which every sector will need to pursue “decarbonization” in a way that makes good business sense. Regent’s seagliders, the investor said, can eliminate much of the greenhouse gas emissions from short-haul flights in aviation, and other emissions from ferries and water taxis, which typically run on diesel while working alongside existing infrastructure.
Islam also envisions Regent seagliders carrying people and equipment to help build, monitor or maintain offshore energy developments, from aging oil rigs to massive wind turbines.
Signage at 23andMe headquarters in Sunnyvale, California, U.S., on Wednesday, Jan. 27, 2021.
David Paul Morris | Bloomberg | Getty Images
The House Committee on Energy and Commerce is investigating 23andMe‘s decision to file for Chapter 11 bankruptcy protection and has expressed concern that its sensitive genetic data is “at risk of being compromised,” CNBC has learned.
Rep. Brett Guthrie, R-Ky., Rep. Gus Bilirakis, R-Fla., and Rep. Gary Palmer, R.-Ala., sent a letter to 23andMe’s interim CEO Joe Selsavage on Thursday requesting answers to a series of questions about its data and privacy practices by May 1.
The congressmen are the latest government officials to raise concerns about 23andMe’s commitment to data security, as the House Committee on Oversight and Government Reform and the Federal Trade Commission have sent the company similar letters in recent weeks.
23andMe exploded into the mainstream with its at-home DNA testing kits that gave customers insight into their family histories and genetic profiles. The company was once valued at a peak of $6 billion, but has since struggled to generate recurring revenue and establish a lucrative research and therapeutics businesses.
After filing for bankruptcy in in Missouri federal court in March, 23andMe’s assets, including its vast genetic database, are up for sale.
“With the lack of a federal comprehensive data privacy and security law, we write to express our great concern about the safety of Americans’ most sensitive personal information,” Guthrie, Bilirakis and Palmer wrote in the letter.
23andMe did not immediately respond to CNBC’s request for comment.
More CNBC health coverage
23andMe has been inundated with privacy concerns in recent years after hackers accessed the information of nearly 7 million customers in 2023.
DNA data is particularly sensitive because each person’s sequence is unique, meaning it can never be fully anonymized, according to the National Human Genome Research Institute. If genetic data falls into the hands of bad actors, it could be used to facilitate identity theft, insurance fraud and other crimes.
The House Committee on Energy and Commerce has jurisdiction over issues involving data privacy. Guthrie serves as the chairman of the committee, Palmer serves as the chairman of the Subcommittee on Oversight and Investigations and Bilirakis serves as the chairman of the Subcommittee on Commerce, Manufacturing and Trade.
The congressmen said that while Americans’ health information is protected under legislation like the Health Insurance Portability and Accountability Act, or HIPAA, direct-to-consumer companies like 23andMe are typically not covered under that law. They said they feel “great concern” about the safety of the company’s customer data, especially given the uncertainty around the sale process.
23andMe has repeatedly said it will not change how it manages or protects consumer data throughout the transaction. Similarly, in a March release, the company said all potential buyers must agree to comply with its privacy policy and applicable law.
“To constitute a qualified bid, potential buyers must, among other requirements, agree to comply with 23andMe’s consumer privacy policy and all applicable laws with respect to the treatment of customer data,” 23andMe said in the release.
23andMe customers can still delete their account and accompanying data through the company’s website. But Guthrie, Bilirakis and Palmer said there are reports that some users have had trouble doing so.
“Regardless of whether the company changes ownership, we want to ensure that customer access and deletion requests are being honored by 23andMe,” the congressmen wrote.
A motorcycle is seen near a building of the Taiwan Semiconductor Manufacturing Company (TSMC), which is a Taiwanese multinational semiconductor contract manufacturing and design company, in Hsinchu, Taiwan, on April 16, 2025.
“TSMC is not engaged in any discussion with other companies regarding any joint venture, technology licensing or technology,” CEO C.C. Wei said on the company’s first-quarter earnings call on Wednesday, dispelling rumors about a collaboration with Intel.
Intel and TSMC were said to have been looking to form a JV as recently as this month. On April 3, The Information reported that the two firms discussed a preliminary agreement to form a tie-up to operate Intel’s chip factories with TSMC owning a 21% stake.
Intel was not immediately available for comment when contacted by CNBC on Wei’s comments on Thursday. The company previously said it doesn’t comment on rumors, when asked by CNBC about the reported discussions.
TSMC’s denial of tie-up talks with Intel comes as President Donald Trump is pushing to address global trade imbalances and reshore manufacturing in the U.S. through tariffs. The Department of Commerce recently kicked off an investigation into semiconductor imports — a move that could result in new tariffs for the chip industry.
TSMC reported a profit beatfor the first quarter thanks to a continued surge in demand for AI chips. However, the company contends with potential headwinds from Trump’s tariffs — which target Taiwan — and stricter export controls on TSMC clients Nvidia and AMD.
A motorcycle is seen near a building of the Taiwan Semiconductor Manufacturing Company (TSMC), which is a Taiwanese multinational semiconductor contract manufacturing and design company, in Hsinchu, Taiwan, on April 16, 2025.
Here are TSMC’s first-quarter results versus LSEG consensus estimates:
Revenue: $839.25 billion New Taiwan dollars, vs. NT$835.13 billion expected
Net income: NT$361.56 billion, vs. NT$354.14 billion
TSMC’s reported net income increased 60.3% from a year ago to NT$361.56 billion, while net revenue in the March quarter rose 41.6% from a year earlier to NT$839.25 billion.
The world’s largest contract chip manufacturer has benefited from the AI boom as it produces advanced processors for clients such American chip designer Nvidia.
However, the company faces headwinds from the trade policy of U.S. President Donald Trump, who has placed broad trade tariffs on Taiwan and stricter export controls on TSMC clients Nvidia and AMD.
Semiconductor export controls could also be expanded next month under the “AI diffusion rules” first proposed by the Biden administration, further restricting the sales of chipmakers that use TSMC foundries.
Taiwan currently faces a blanket 10% tariff from the Trump administration and that could rise to 32% after the President’s 90-day pause of his “reciprocal tariffs” ends unless it reaches a deal with the U.S.
As part of efforts to diversify its supply chains, TSMC has been investing billions in overseas facilities, though the lion’s share of its manufacturing remains in Taiwan.
In an apparent response to Trump’s trade policy, TSMC last month announced plans to invest an additional $100 billion in the U.S. on top of the $65 billion it has committed to three plants in the U.S.
On Monday, AMD said it would soon manufacture processor chips at one of the new Arizona-based TSMC facilities, marking the first time that its chips will be manufactured in the U.S.
The same day, Nvidia announced that it has already started production of its Blackwell chips at TSMC’s Arizona plants. It plans to produce up to half a trillion dollars of AI infrastructure in the U.S. over the next four years through partners, including TSMC.
Taiwan-listed shares of TSMC were down about 0.4%. Shares have lost about 20% so far this year.