Skyfly Raises $10m to Advance Axe Electric Aircraft Towards Production
UK aircraft developer Skyfly Technologies has raised $10 million in a seed funding round to support certification and production of its two-seat Axe electric vertical take-off and landing (eVTOL) aircraft, with first customer deliveries planned for 2027.
The round was led by HICO Investment Group, with participation from defence-focused investment fund Archangel. Skyfly said the funding would support certification under the US Federal Aviation Administration’s (FAA) updated Modernization of Special Airworthiness Certification (MOSAIC) rules, expand production capacity in the UK and US, and accelerate development of its hybrid-electric Longbow unmanned aircraft.
The Axe has completed more than 100 piloted prototype flights, according to the company, and holds experimental flight permits in the UK and US. Skyfly also reports an order book of 61 private customers, although the announcement does not detail the status or terms of those orders.
The aircraft uses eight fixed-angle electric motors for vertical take-off and landing, with wings providing lift during forward flight. Skyfly says the design avoids the tilting motors and rotating-wing mechanisms used by some other eVTOL configurations. The company quotes a range of more than 100 miles, a cruising speed of 100mph and a payload of 200kg, with a flight endurance of 60 to 90 minutes.
Skyfly is targeting the private-owner market, positioning the Axe as an alternative to conventional light aircraft and helicopters. The company estimates operating costs of around £70 per flying hour, compared with approximately £300 for some existing light aircraft and helicopter types. These figures are manufacturer estimates and have not been independently verified.
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.” — Chris Hartnoll, managing director at HICO Investment Group.
The funding will also support the Longbow, a hybrid-electric unmanned aircraft derived from the Axe concept. Skyfly says Longbow is intended for defence and government missions including cargo resupply, intelligence, surveillance and reconnaissance (ISTAR), medical evacuation and ship-to-shore logistics. It is designed for a range exceeding 400 miles and a 200kg payload. The company said it has been enrolled in the UK Ministry of Defence’s heavy-lift challenge.
“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.” — Nicholas Nelson, General Partner at Archangel Ventures
Both aircraft are planned to be manufactured at Skyfly’s 10,000-square-foot facility in the UK.
The company’s certification plans depend in part on the revised US light-sport aircraft framework, which it says provides a pathway for electric aircraft capable of vertical flight. Regulatory acceptance and completion of the required testing remain important steps before customer deliveries can begin — with the timing of this new project being a deliberate follow-up to the new regulations introduced in July of this year.
