Skyfly Secures $10 Million Seed Round for Two-Seat Axe eVTOL

Skyfly Technologies is developing the Axe, a two-seat electric vertical-takeoff-and-landing aircraft. Aviation Week reports that the UK startup closed a $10 million seed funding round led by HICO Investment Group, based in Singapore.

Skyfly secured $10 million in seed funding, with Singapore-based HICO Investment Group leading the round.

What has been confirmed

The available information comes from Aviation Week; the funding, investor and development details are assessed as likely, not officially confirmed. The report says Skyfly plans to use the funding to support the Axe through the FAA Part 22 approval process as a light sport aircraft. It also describes an all-electric light-sport version and a hybrid-electric uncrewed version in development.

Why it matters

The planned FAA Part 22 pathway would place the Axe in the light-sport aircraft category. That category can offer a different certification route from larger commercial aircraft, although the source does not confirm an approval date or outcome.

FlyMarshall context

A two-seat eVTOL is a small aircraft concept rather than an airliner. Electric propulsion uses battery-powered motors, while a hybrid-electric configuration combines electric propulsion with another energy source. The source does not provide performance, range, payload or operating-cost figures for either Axe configuration.

What happens next

Skyfly plans to use the seed funding to pursue FAA Part 22 approval for the Axe. The source provides no confirmed certification timetable or further milestones.