Kepplair Evolution raises €6 million to build European water bombers
What's the deal? Kepplair Evolution has closed a €6 million (≈$7 million) Series A round backed by members of Aerospace AngelsDealroom has a profile for this one. Try Dealroom →, France's leading aerospace angel investor network. The close brings the French startup's total raised since 2024 to €17.5 million, split between €12.5 million in private equity and €5 million in public grants.
Why now? The round follows the first pre-modification flights of the company's prototype. It also lands amid worsening wildfires: more than 91,000 hectares had burned in France by the end of August 2026, over 300% more than at the same point a year earlier.
What's the endgame? Kepplair Evolution is converting the ATR 72 aircraft into a water bomber to replace aging firefighting fleets. It says the conversion approach cuts development timelines, cost, and industrial risk, and can also support cargo, medical evacuation, and rescue missions.
The new capital funds a first demonstrator, flight testing, certification with the European Union Aviation Safety Agency (EASA), and preparations for industrialisation. The company aims to certify and enter service with the KEPPLAIR 72 by 2027.
What could go wrong? The timeline is tight, and EASA certification remains ahead. The €6 million close is part of a larger €20 million Series A launched in early spring, so the round is not yet complete.
Founding president David Joubert framed the raise as validation. "With €17.5 million raised in less than two years, Kepplair Evolution is no longer just a company developing an innovative project; it is becoming a manufacturer preparing to launch a new generation of European water bomber aircraft," he said.
The signal: The round sits in the upper half of comparable deals by size, reflecting investor appetite for climate-adaptation hardware. It also fits a push for European industrial sovereignty in a sector deemed strategic as fire seasons intensify.
Read more: aeroermo.com
Image credit: Kepplair Evolution
