Surf Air (SRFM) Invests $26M to Develop SurfOS

Surf Air Mobility Inc. (NYSE:SRFM) is one of the 10 Best New Penny Stocks to Invest In. On December 30, Surf Air Mobility Inc. (NYSE:SRFM) announced that it has allocated $26 million from its recent $100 million strategic transaction to support the development and commercialization of SurfOS’s flagship products, including BrokerOS, OperatorOS, and OwnerOS.

The funding will be used to strengthen engineering and go-to-market capabilities, develop enterprise-grade solutions, and introduce new modules. Surf Air Mobility Inc. (NYSE:SRFM) expects these efforts will help it increase its share in the growing air mobility software market.

According to the report by Surf Air Mobility Inc. (NYSE:SRFM), SurfOS’s core operating system is powered by Palantir Technologies Inc.’s (NASDAQ:PLTR) Foundry and AIP Platforms for the Part 135 regional aviation segment. The company has also expanded its partnership with Palantir Technologies Inc. (NASDAQ:PLTR) to offer enterprise implementation services. Additional go-to-market resources from Palantir Technologies Inc. (NASDAQ:PLTR) will also speed up the commercial rollout of SurfOS.

Surf Air Mobility Inc. (NYSE:SRFM) reported clear operational improvements after internally adopting SurfOS tools. The company achieved a reduction in On Demand team expenses, which allowed it to generate higher revenues at lower costs. It also recorded a significant increase in bookings per broker. In addition, the crew scheduling tool in Surf Air Mobility Inc.’s (NYSE:SRFM) Northeast and Hawaii regions is helping prevent scheduling errors, reduce compliance risk, and operational complexity.

Surf Air Mobility Inc. (NYSE:SRFM) is an electric aviation, software, and air travel company. It provides technology to support the modernization of air operations and the adoption of next-generation aircraft. The company also operates one of the latest commuter airlines in the US.

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Disclosure: None. This article is originally published at Insider Monkey.