Menu
Advanced Air Mobility News

SkyDrive Secures Further Funding in Series C Round

by Ben Mirwani
SkyDrive Secures Further Funding in Series C Round

Japanese eVTOL manufacturer SkyDrive secured additional funding in its Series C round, bringing its cumulative total to over 15 billion yen (about USD$112.7 million) as of April 6. 

MUFG Bank, one of Japan’s largest financial institutions, increased its capital investment in SkyDrive. Japanese electronic components manufacturer, Murata Manufacturing, became SkyDrive’s new investor with a target fund in the Series C round. 

The latest capital boost comes after the company successfully raised 9.6 billion yen (about USD$72.1 million) in Series C funding in September 2022. 

The Tokyo-based firm is currently developing the SD-05, a two-seater eVTOL designed to travel approximately 10 km at a maximum cruise speed of 100 kph. SkyDrive is in the process of obtaining Type Certification for the aircraft from the Japanese Ministry of Land, Infrastructure, Transport and Tourism (MLIT). 

It aims to launch the SD-05 in 2025 and provide an air taxi service in the Osaka Bay area in time for the Osaka Expo. Other uses being explored include traveling to and from resort facilities and emergency medical services. 

Last month, SkyDrive signed a deal with VPorts to cooperate on business development, market expansion, and the implementation of advanced air mobility (AAM) transportation in the United Arab Emirates. 

In November 2022, it signed a memorandum of understanding (MoU) with Vietnamese energy company Pacific Group, which preordered up to 10 SD-05 aircraft. The agreement also included a conditional option to order 90 more eVTOLs. 

Do you want to be one of the first to read stories like this? Our newsletter features all of the top stories of the week condensed into one easy-to-read email. It’s fast and free to sign up, so click here to sign up now.

Related Articles

INDUSTRY REPORTS

© Copyright Asian Sky Group -2024 | All Rights Reserved

Create an account Login