Flying vehicle companies from around the world are receiving funding to get their crafts into the air

Chuck Martin, Editorial Director AI & IoT

August 29, 2023

2 Min Read
Zero Gravity Aircraft Industry's  six-seat eVTOL (electric vertical takeoff and landing) vehicle
Zero Gravity Aircraft Industry

Flying car startups of various types are drawing funding from investors ranging from venture capitalists to established airlines.

Zero Gravity Aircraft Industry, the Chinese maker of a six-seat eVTOL (electric vertical takeoff and landing) vehicle, just raised $14 million in a new financing round.

The latest financing came from Nanjing Jiaogong, Hefei Angel Fund and shareholder Lanchi Venture Capital.

The financing is intended to be used for research and development and test flight of the company’s flagship model ZG-T6 tilt-rotor craft and to start mass production.

A Nanjing Jiaogong subsidiary plans to help with the plan of "focusing on scenic low-altitude experience as the main business, equipped with eVTOL related extension services and gradually realizing UAM (Urban Air Mobility) transition, aiming to become the world's leading intelligent and advanced low-altitude transportation service provider,” according to the company funding announcement.

This is the latest in a continuing flood of investments into electric aerial vehicles (EAV).

For example, Archer Aviation recently received $215 million in funding from United Airlines, Boeing, Stellantis and Ark Investment Management.

Boeing also previously invested $450 million in EAV company Wisk and recently acquired the startup, making it a Boeing subsidiary.

Related:Flying Car Startup Funding Tops $1B; Backed by Boeing, United Airlines

The total investment in Archer’s EAV development is now $1.1 billion.

While not exactly an investment, orders and pre-orders for flying vehicles are also adding up. 

For example, Ace VTOL In Perth, Australia, received a $250 million order for its vehicles to be sold in U.S. showrooms by Aeroauto of West Palm Beach Florida.

Alef Aeronautics received 2,500 pre-orders for its electric flying car with a total value of $750 million upon delivery.

Sino Dragon Airlines agreed to purchase 100 eVTOLs from the Geely Auto Group and United Airlines, United Airlines and Delta Air Lines all have orders or preorders in.

Flying vehicles are on the way, with plenty of funding behind them.

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Flying Cars

About the Author(s)

Chuck Martin

Editorial Director AI & IoT

Chuck Martin, author of "Flying Vehicles," New York Times Business Bestselling author and futurist, is Editorial Director at Informa Tech, home of AI Business, IoT World Today and Enter Quantum. Martin has been a leader in emerging digital technologies for more than two decades. He is considered one of the foremost emerging technology experts in the world and his latest book title "Flying Vehicles" (The Emergence of Personal Air Travel, Flying Cars, and Air Taxis) followed "Digital Transformation 3.0" (The New Business-to-Consumer Connections of The Internet of Things).  He hosts a worldwide podcast titled “The Voices of the Internet of Things with Chuck Martin,” where he converses with top executives from the companies driving the adoption of emerging technology.

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