British eVTOL aircraft developer Skyfly has closed a $10 million seed funding round which it says will enable it to bring its Axe model to market. As well as the two-seat civil version the company wants commercialize under FAA MOSAIC certification rules, the investment announced this week could also accelerate development of a hybrid-electric defense-specific variant.
On October 20, Skyfly announced the funding – led by Hico Investment Group – would enable it to move beyond its existing flying prototype through to certification and production. Skyfly is pursuing FAA Part 22 Modernization of Special Airworthiness Certification (MOSIAC) light sport aircraft rules, a category first unveiled in 2025 and which took effect in June of this year: expanding the capabilities and the types of aircraft that can be manufactured in the category.
Skyfly is targeting a 2027 service entry for its aircraft, which uses a lift-and-cruise configuration enabled by eight fixed-angle electric motors. Its pre-production prototype made its first flight in March 2025 and, after moving to the U.S. later that year, has flown more than 100 times to date. Skyfly is targeting a range of over 83 nm with a total payload of 440 pounds for its production variant. According to the company, the use of advanced composite structures can help deliver “industry-leading efficiency measured in kilowatts per passenger mile.”
Defense-Specific Longbow Variant
The funding included an unspecified amount from Europe’s Archangel, which describes itself as a defense technology fund exclusively focused on “defense-first and defense-only startups”. This will help Skyfly to concurrently develop what it defined as an “unmanned longer-range variant of the Axe aimed at defense and government customers,” dubbed the Longbow.
This hybrid-electric version could offer an extended range of over 347 nm. Skyfly unveiled its first hybrid propulsion system in July 2026, a concept it said was aimed at purpose-built uncrewed platforms. The hybrid system, which will be able to recharge both in flight and on the ground, could be compatible with JP8 [military-grade jet fuel].
According to Skyfly CEO Michael Thompson, the Archangel-backed investment accelerates development and demonstration of the hybrid propulsion technology at a time when urgent shifts security strategy have ramped up interest in uncrewed vehicles. "We believe the Axe’s range and useful load offer a genuinely useful capability, with a level of simplicity the market has not yet seen,” he commented.
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