Britain’s Skyfly raises €8.91 million for its two-seat Axe eVTOL and the Longbow defence project
Skyfly Technologies, a British developer of electric and hybrid-electric vertical take-off aircraft, has closed an €8.91 million ($10 million) Seed round. The money is meant to bring the two-seat Axe eVTOL to market and to develop Longbow for defence.
Skyfly Technologies, a UK developer of electric and hybrid-electric vertical take-off and landing aircraft (eVTOLs), has closed a Seed funding round worth €8.91 million ($10 million). Aircraft of this type can take off and land vertically, so they do not need a runway.
The round was led by HICO Investment Group, a specialist growth equity investor. Archangel also took part. It is a €50 million early-stage fund and, according to the source, Europe's only venture fund dedicated to next-generation defence technology.
What the funding is for
According to the headline of the report, the money is intended to bring the two-seat Axe eVTOL to market and to develop Longbow for defence. The source gives no further technical details, timelines or pricing.
