Erebor Bank has provided $120 million of debt capital to REGENT Craft as part of a $240 million Series B. The Rhode Island seaglider maker said the round is an equal mix of equity and debt, with Mare Liberum and AE Ventures co-leading the equity sleeve.
REGENT said the proceeds will be used to scale manufacturing, execute certification milestones and deliver Seagliders to customers. Co-founder and Chief Executive Billy Thalheimer said the financing takes the company from development into production.
REGENT develops and manufactures Seaglider vessels, wing-in-ground-effect craft built for coastal transport. The company said the financing arrives ahead of the first human flight of its Viceroy prototype and the start of production at a newly completed 255,000-square-foot plant in Rhode Island, and that it has booked multiple years of manufacturing capacity against a commercial order book spanning six continents. REGENT has also cited an expanded $15 million US Marine Corps contract for its Viceroy platform.
Erebor is a new OCC-chartered, FDIC-insured US national bank co-founded by Anduril Industries founder Palmer Luckey. REGENT's announcement described the sleeve as manufacturing financing. Owen Rapaport, Co-founder and Chief Executive of Erebor, said rebuilding America's industrial base means banking the companies actually willing to build things again.
Mare Liberum, a maritime investment firm that had already backed REGENT, is deepening its commitment. Admiral Lorin Selby, General Partner at Mare Liberum, said operators need greater speed, reach and flexibility. Brian Schettler, Partner and Head of AE Ventures, pointed to the first flight of Squire and the completed manufacturing facility. AE Ventures, the venture capital platform of AE Industrial Partners, has completed more than 50 early-stage investments, and AE Industrial Partners had $9.4 billion of assets under management as of 30 June 2026.
DCVC joined as a new investor. Existing backers Founders Fund, Caffeinated Capital, Lockheed Martin Ventures, Japan Airlines and Giant Step Capital also supported the round.
REGENT has now raised $340 million across equity and debt, after a $60 million Series A in October 2023 co-led by 8090 Industries and Founders Fund, which took the total then to $90 million.