SkyDrive Inc. (“SkyDrive”), a Japan-based eVTOL aircraft manufacturer, announced the completion of another Series C financing round, secured through the allocation of new shares by third parties to four organizations.
With this latest investment, the company has raised a total of eight billion yen in three additional Series C financing rounds.
Investors in this additional financing round C
・ Inventum Ventures
・Osaka Metro Co., Ltd.
・ Energy & Environment Investment, Inc. (Series A and Series B investment
・Mizuho Bank, Ltd.
Background and objectives of the funding
SkyDrive was founded in July 2018 with the mission to “take the lead in the once-in-a-century mobility revolution,” and its vision is to create a future where everyone in Japan and around the world uses eVTOLs as their daily mode of transportation.
The type certification is one of the essential approvals for the social implementation of eVTOL. The Japan Civil Aviation Bureau (JCAB) accepted a type certification application for SkyDrive’s eVTOL “SKYDRIVE” in 2021, and in 2022, JCAB and SkyDrive agreed on the certification basis.
SkyDrive is currently conducting certification activities in parallel with development with the aim of agreeing a certification plan. After agreeing the certification plan, SkyDrive will conduct ground tests and flight tests to verify that the required standards and performance criteria are met.
With this investment, SkyDrive plans to improve both its ground and flight testing facilities and organization to accelerate its development and certification activities. In addition, the company will expand and strengthen its quality assurance and other key departments to support the transition to mass production and ensure that its aircraft meet quality and reliability standards.
SkyDrive has received a total of 263 pre-orders for its eVTOL from Japan, the USA, South Korea and Vietnam.
SkyDrive will also develop a digital platform that will enable the company to consistently manage aircraft data throughout the entire lifecycle, from design and manufacturing to delivery. This platform will enable the company to monitor the condition of the aircraft even after delivery to the customer.
Comments from Tomohiro Fukuzawa, CEO of SkyDrive Inc.: “Since the Series C funding in September 2022, we have made great progress in the development of our eVTOL aircraft, with many world-class engineers from around the world joining our team. In collaboration with Suzuki Motor Corporation, a shareholder and strong manufacturing partner, we announced the start of production of ‘SKYDRIVE’ at the Suzuki Group manufacturing plant in March 2024. In terms of business development, we are also working with Suzuki to develop the market in India and have entered into a strategic partnership with the Government of Gujarat. In the United States, we established SkyDrive America, Inc. in September 2023 and are currently developing practical use cases starting from regional airports in South Carolina, Georgia and other states.
“We are grateful to our investors and business partners for their positive assessment of our progress and strong support. We will continue to do our best to advance our eVTOL and business development and meet all expectations.”
This press release was created and distributed by SkyDrive.
