Aerospace company founded by former SpaceX and Blue Origin employees plan to ...

A new company is looking to develop a plane that can get passengers from New York City to London in just 90 minutes. 

According to multiple reports, the aerospace company Hermeus, has received initial seed funding in its efforts to build supersonic propulsion technology that it hopes will power commercial planes within the next decade. 

The amount of funding has not yet been publicly disclosed. 

Hermeus says its aircraft would travel at speeds of 3,300 miles-per-hour with a range of 4,600 miles, and will be powered mostly by existing technology. 

According to Ars Technica, the company's craft will be built using mostly titanium and Hermeus looks to have a functional demo version ready in the next five years. 

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Hermeus is the latest competitor in the race to develop ultra-fast aircraft and is looking to develop a vehicle capable of traveling at 3,300 miles per hour

Hermeus is the latest competitor in the race to develop ultra-fast aircraft and is looking to develop a vehicle capable of traveling at 3,300 miles per hour

Hermeus' technology isn't the only thing that's high-powered. The company is staffed with two former higher-ups at Blue Origin, the Jeff Bezos-backed aerospace company, as well as former employees of SpaceX, the Elon Musk-owned competitor to Blue Origin. 

'With experience from the best of NewSpace companies, the Hermeus team is well positioned to disrupt the hypersonics industry,' said Rob Meyerson, former President of Blue Origin in a statement. 

Other founders at Hermeus worked previously at a company Generation Orbit where they helped to develop the X-60A, a hypersonic rocket used by the U.S. military to test the viability ultra-fast vehicles.

In it's endeavor to supercharge air travel, Hermeus will compete with a host of other companies already developing supersonic planes.

Among the competitors is Boom Supersonic, which entered the field three years ago and has made significant headway in bringing its planes to the public. 

The company could have the craft ready by 2020 with Virgin Group and Japan Air collectively ordering 30 of the companies planes according to Ars Technica.

A plane traveling as fast as Hermeus could theoretically get passengers from New York to London in 90 minutes

A plane traveling as fast as Hermeus could theoretically get passengers from New York to London in 90 minutes

While Boom's planes may be first to market, Heremeus plans to edge out their competitors with sheer speed. 

Boom's planes will travel about a third of

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