• 28 Aug 2023 12:28 PM
• 0

Aerofugia Raises $14M

On June 30, AeroFugia announced in a post on social media that it had raised 100M yuan ($14M) in a Series A funding round. AeroFugia, a subsidiary of Chinese carmaker Geely, said that the funds would go towards further developing the AE200 eVTOL aircraft. Now flying, the AE200 (shown) is a five-seat tilt-propeller eVTOL aircraft unveiled in May (see “Electric VTOL News,” Vertiflite, July/Aug 2023). The fund was led by the Beijing-based Tsinghua Holdings (TH) Capital, the parent company of business aviation firm SINO JET, and joined by Orizaseed, Honghua Aviation and Sky Soar.