Advanced Air Mobility News

SkyDrive Raises USD$ 66.8 million in Series C Funding

SkyDrive Raises USD$ 66.8 million in Series C Funding

SkyDrive says that it has raised a total of USD$ 66.8 million (9.6 billion yen) in its Series C round of financing.

The financing, which has brought the company’s cumulative total to about USD$ 102.2 million (14.7 billion yen), was made by a third-party allotment of new shares and bank loans from 13 companies.

Series C funders include Suzuki Motor Corp, Sumitomo Mitsui Trust Bank, Tokio Marine Holdings and MUFG Bank.

“We are very grateful for the new financing and the opportunity to announce a capital alliance with those closely involved in our business,” said Tomohiro Fukuzawa, Chief Executive Officer, SkyDrive.

The company, which conducted a test flight of Japan’s first crewed flying car in 2019, completed its Series B Round in September 2020 and signed a collaboration agreement with Osaka Prefecture and Osaka City for the realization of flying cars in September 2021.

SkyDrive also unveiled its SD-05, a two-seat vehicle that is now in development, with the aim of realizing an air taxi service in the Osaka Bay area for the 2025 Osaka Expo.