British aircraft developer Skyfly Technologies has raised $10 million in seed funding to advance its two-seat Axe electric eVTOL from flight testing towards certification and series production. Led by HICO Investment Group with participation from defence-technology investor Archangel, the financing supports production expansion in the United Kingdom and United States, with first customer deliveries planned for 2027 subject to certification and further testing.
The Axe uses eight fixed-angle electric motors for vertical take-off and landing, while its wings provide lift in forward flight. Skyfly’s prototype has completed more than 100 piloted flights and holds experimental flight permits in both countries. The company reports 61 customers in its order book, although the available information does not specify whether these commitments are firm, refundable or conditional.
The funding will support approval under the US Federal Aviation Administration’s updated rules, with the programme intended to progress through Part 22 approval as a light-sport aircraft. It will also fund additional staff and manufacturing capacity on both sides of the Atlantic.
A portion of the investment will accelerate the hybrid-electric Longbow, an unmanned, longer-range derivative aimed at defence and government customers. Skyfly is developing the aircraft’s hybrid-propulsion system alongside applications including logistics and other government missions.