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Failed electric jet startup Zunum sues Boeing for fraud and misuse of trade secrets
Nov 24, 2020
In 2017, Zunum Aero was flying high. The Kirkland, Washington-based aviation startup came out of stealth mode with bold plans to build a fleet of 12-seat hybrid electric jets for short, regional hops between cities. The company, which had received millions of dollars from the venture arms of Boeing and JetBlue, said it would be ready to fly by 2022.
Not long after, those dreams came crashing down to earth. In 2018, Zunum ran out of cash, forcing it to lay off nearly all of its employees and vacate its headquarters. It struggled to raise additional funds that it needed to get its plans back in motion. And now, Zunum is striking back at one of its former investors. The company filed a lawsuit in Washington Superior Court this week accusing aerospace giant Boeing of fraud, technology theft, breach of contract, and misappropriation of trade secrets.
Zunum said that Boeing “colluded with other key aerospace manufacturers and funders” to sabotage its efforts to raise additional cash and tried to poach Zunum’s engineers during the process. The startup claims that Boeing saw its superior technology and potential to disrupt air travel as a threat to its own dominance in the aviation world and sought to undermine it. Using its due diligence as an investor as subtext, Zunum said Boeing gained access to its business plan and proprietary technology, and “exploited” Zunum for its own benefit.
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