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Skyfly Technologies Raises €8.91M to Certify eVTOL Aircraft

Skyfly Technologies raised €8.91M Seed led by HICO Investment Group to certify its Axe eVTOL and develop Longbow for defense.

By Raina Gimmel

Michael Thompson, Founder and CEO of Skyfly Technologies.

The big picture: Skyfly Technologies, a British developer of electric and hybrid-electric vertical take-off aircraft, has closed an €8.91 million Seed round. The funding will accelerate the certification of its two-seat Axe eVTOL and advance the Longbow, an unmanned hybrid-electric derivative for defense applications.

Why it matters:

  • Regulatory Tailwinds: The FAA’s upcoming MOSAIC reforms in July 2026 will create a new pathway for Light Sport-class eVTOLs, a category for which Skyfly’s Axe was specifically designed.
  • Dual-Use Potential: Beyond civilian air mobility, the Longbow variant addresses critical defense needs for cargo resupply, intelligence, and medevac missions, moving significant payloads over long distances without runways.
  • Cost-Effective Operation: The Axe projects an operating cost of around €83.57 per flight, positioning it favorably against traditional two-seater aircraft like the Robinson R22 or Cessna 152.

How it works:

  • Simplified Design: The Axe utilizes eight fixed-angle electric motors for vertical take-off, transitioning to winged forward flight. This design eliminates the mechanical complexity and potential failure points associated with tilting motors or rotary wings found in many eVTOL concepts.
  • Enhanced Safety: In the event of power loss, the Axe’s winged configuration allows it to glide, providing a critical safety advantage over designs that would simply fall.
  • Modular Platform: Skyfly’s core aircraft design supports both the manned Axe and the unmanned Longbow, allowing for efficient development and manufacturing of platforms tailored for distinct civilian and defense markets.

The catch: The eVTOL market remains highly competitive and capital-intensive, with numerous startups vying for certification and market share. Skyfly faces significant hurdles in scaling manufacturing, navigating evolving regulatory landscapes, and securing public acceptance for new forms of air travel, alongside competition from well-funded incumbents and other innovative entrants.

Key Facts

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