FutureFlight
Investors Back Urban Aeronautics's Hydrogen eVTOL Plans with $10 Million Funding
The Israeli company has raised the first $10 million towards a Series A funding round goal of $100 million, with support from investors in Israel, the U.S., and Brazil.
Urban Aeronautics CityHawk
Urban Aeronautics recently unveiled a new design for is planned CityHawk eVTOL aircraft. (Image: Urban Aeronautics)

Urban Aeronautics has raised the first $10 million of a $100 million Series A funding round to support its plans to develop the hydrogen-powered CityHawk eVTOL aircraft. The new investment comes from New York-based emergency medical transportation group Besadno, Israeli automobile retailer Talcar Corp., and an undisclosed Brazilian private investor.

In July Urban Aeronautics unveiled a new design for the five-seat CityHawk, with improved aerodynamic performance and other enhancements resulting from three years of testing with a technology demonstrator powered by a Safran Arriel 2N turboshaft engine. The new model will feature a pair of the Tel Aviv-based company’s patented Fancraft counter-rotating ducted fans. The aircraft has no wings or rotors, with the distinctive fuselage acting as a lifting surface.