Skyfly Technologies has closed a $10 million seed funding round to transition its Axe two-seat electric vertical takeoff and landing (eVTOL) aircraft into certified production, according to company officials.
The investment was led by growth equity investor HICO Investment Group, with participation from defense technology fund Archangel. Company officials stated the capital will fund FAA light-sport aircraft certification of the Axe under the MOSAIC regulations enacted in July 2026. The funding will also expand production capacity across the United Kingdom and the United States ahead of planned customer deliveries in 2027.
“This investment gives us the resources to take the Axe from a flying prototype to a certified aircraft in customers’ hands,” said Michael Thompson, CEO of Skyfly. “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.”
Unlike pure rotorcraft designs, the Axe utilizes a winged architecture powered by eight fixed-angle electric motors, eliminating tilting mechanisms and generating conventional aerodynamic lift during forward cruise, company officials explained. The aircraft offers a cruising speed of 100 mph, a flight endurance of 60 to 90 minutes, a range of more than 100 miles, and a 200-kilogram payload capacity. The prototype has completed more than 100 piloted flights, with 61 private customer orders currently logged.
The capital injection 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.
For more information: Skyfly.aero
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