The company are working towards the goal of getting their 12 seater electric plane up in the skies by the early part of the next decade in what they promise will "take aviation into the future".
The new plane will be able to travel at a maximum speed of 340 miles per hour and travel for around two hours. They are predicting travel from Boston to Washington, D.C., for example, could cost just $140 one-way and take less than three hours door to door because of the use of regional airports.
Matt Knapp, Zunum Aero founder and chief engineer, said: "This aircraft is going to transform how we live and work. We've pushed ourselves to challenge conventional wisdom and the limits of engineering to deliver an aircraft of which we are extremely proud - one that offers efficiency and performance without compromise."
Whilst Logan Jones, Managing Director at Boeing HorizonX, a Zunum investor, added: "Zunum is reinvigorating the regional market with a solution that's both innovative and realistic. We see them as a leader in electric aviation, building on proven technologies, with a mature technical and commercial team."
Zunum have plans to use some of the 5000 under utilised airports in the United States to speed up journey times and reduce costs.
Bonny Simi, President of JetBlue Technology Ventures, another Zunum investor, shared: "We believe that the regional transportation industry is ripe for disruption and we're excited to support Zunum and its efforts to help introduce a new era of aviation."
Zunum Aero is hoping to start testing the aircrafts in 2019 ahead of the phase one release in 2022, with plans to carry on developing different size aircrafts that can travel longer distances in the years ahead.