Volant Aerotech, a Chinese electric vertical take-off and landing (eVTOL) development startup, announced on Thursday that it has completed a pre-A funding round worth 100 million yuan ($14.94 million). dollars) in the first half of this year. This round was led by Future Capital, followed by Qingsong Fund and Welight, and its existing shareholder Shunwei Capital continued to increase its investment.
Founded in June 2021, the company is focused on providing safe, environmentally friendly and affordable passenger aircraft and solutions for future air travel. He made the first flight of the 1:3 scale prototype just two and a half months after it was put in place. The company is fully investing in large-scale technology verification aircraft and will complete final assembly and delivery in the near future.
The company has comprehensive engineering and technical capabilities, covering all aircraft and aerodynamics, systems engineering, flight testing and airworthiness certification. It also has the capability of civil aviation aircraft project management and professional supply chain management. Funds from the recently concluded round will be used to promote R&D, manufacturing and flight testing of its full-scale technology demonstrator, accelerate basic airworthiness work and explore the application market.
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Dong Ming, Founder and CEO of Volant Aerotech, said, “In recent years, the trend of comprehensive transformation of the automotive industry towards new energy has promoted the rapid development of the upstream energy system industry, making it possible aviation distributed electric propulsion (DEP) technology. and mature. This also gave rise to eVTOL, which has the green economy as its attribute. As an important part of transport economic development, we have noticed that relevant state departments are actively promoting the opening of low-altitude airspace, which is beneficial to the development of eVTOL industry. We are actively discussing various application scenarios and their technical performance requirements with many aircraft operators.
As lead investor in this funding round, Future Capital Partner Eric Xia said, “We have focused on smart electric travel since our inception and have been investing in electric aviation since 2018. eVTOL will become one. important modes of transportation in the future due to its safety, high efficiency and low cost. It still takes time for eVTOL to start being commercialized on a large scale. The tenacity, focus and enthusiasm of Dong Ming and his team inspire us to be his long-term support.