Skyfly Technologies Raises $10 Mn Seed Funding to Advance Electric Aircraft and Defence Technology

The funding will help Skyfly develop its Axe aircraft from a flying prototype into a certified production model ready for customers. The two-seat electric aircraft can take off like a helicopter and fly like a conventional aeroplane.

Michael Thompson, CEO of Skyfly, said: “This investment gives us the resources to take the Axe from a flying prototype to a certified aircraft in customers’ hands. The FAA’s MOSAIC rules have opened a route to market that simply did not exist for electric aircraft before, and the Axe was designed for exactly this category. HICO and Archangel understood that timing, and their backing lets us move at the pace the opportunity demands: completing certification and standing up series production. It also accelerates development and demonstration of the hybrid propulsion technology underpinning our defence products, at a moment when uncrewed aircraft have become central to how nations think about security. We believe the Axe’s range and useful load offer a genuinely unique capability, with a level of simplicity the market has not yet seen.”

Nicholas Nelson, General Partner at Archangel Ventures, said: “Longbow addresses a clear requirement for unmanned systems that can move meaningful payloads over significant distances without relying on a runway. Archangel invests exclusively in defence-first companies, and our backing of Skyfly reflects the potential we see in its technology to deliver mission-necessary capability for the modern battlespace.”

Chris Hartnoll, managing director at HICO Investment Group, said: Electrification is revolutionising every industry that moves things, and aviation is next. A simpler electric drivetrain, with fewer moving parts and requiring a fraction of the maintenance, makes aircraft like the Axe practical for private owners for the first time and will enable the Longbow to transform logistics across domains. What Skyfly's team has achieved with so little is remarkable: a new aircraft, designed and built from scratch, flying and now leading the way through a brand-new certification pathway. We're excited to back a team with a big vision and relentless drive to execute."

Skyfly Technologies develops aircraft and related systems for civilian and defence use. Its main product, the Axe, is a fully electric aircraft that can carry two people. It can travel more than 100 miles at a cruising speed of 100 mph and take off and land without a runway.

The company is also developing the Longbow, a hybrid-electric unmanned aircraft designed for defence and government customers. Skyfly Technologies is based in Thorpe Mandeville, Oxfordshire, UK.

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