Skyfly Technologies Closes $10 Million Seed Round to Certify Axe Two-Seat eVTOL
Why It MattersLight-sport rules now give small electric aircraft makers a cheaper certification route than full type certification, letting seed-stage eVTOL developers chase near-term deliveries instead of waiting years for commercial approval.
Skyfly Technologies has closed a $10 million seed funding round to move its Axe two-seat electric vertical takeoff and landing (eVTOL) aircraft into certified production, company officials said. The round was led by growth equity investor HICO Investment Group, with participation from defense technology fund Archangel.
Company officials said the capital will fund FAA light-sport aircraft certification of the Axe under the MOSAIC regulations enacted in July 2026, and expand production capacity across the United Kingdom and the United States ahead of planned customer deliveries in 2027. CEO Michael Thompson said the investment provides the resources to take the Axe from a flying prototype to a certified aircraft in customers' hands, and that the FAA's MOSAIC rules have opened a route to market that did not previously exist for electric aircraft.
The Axe uses a winged architecture powered by eight fixed-angle electric motors, with no tilting mechanisms, and generates conventional aerodynamic lift in forward cruise. It has a cruising speed of 100 mph, endurance of 60 to 90 minutes, range of more than 100 miles and a 200-kilogram payload capacity. The prototype has completed more than 100 piloted flights, and 61 private customer orders have been logged.
The funding will also support development of the Longbow, Skyfly's unmanned hybrid-electric aircraft designed for cargo transport, reconnaissance and medical evacuation, with a targeted range of more than 400 miles.
