Aug 20, 2024 05:58 AM
BUSINESS
Shanghai Volant Secures Fresh Funding as eVTOL Sector Prepares for Take-Off
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Established in 2021, Shanghai-based Volant has secured five rounds of financing, each exceeding 100 million yuan so far this yea
Shanghai Volant Aerotech Co. Ltd., an electric vertical-takeoff-and-landing (eVTOL) aircraft startup, says it has secured hundreds of millions of yuan in a new funding round, riding the wave of investment flowing into the rapidly growing sector.
The fundraising was backed by a group of investors led by Beijing Robot Industry Fund, Volant said Monday. Other investors include Beijing Jingguorui Equity Investment Fund Management Co. Ltd., Shoucheng Holdings Ltd. and Yanchuang Capital.
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- Shanghai Volant Aerotech Co. Ltd. secured hundreds of millions of yuan in funding led by Beijing Robot Industry Fund to advance its VE25 eVTOL model.
- The VE25, designed for one pilot and five passengers, aims to achieve airworthiness certification and commercial market entry.
- China’s government promotes the low-altitude economy, with plans for trial commercial use of eVTOLs by 2025 and widespread use by 2035, despite challenges in receiving sufficient investment.
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Who’s Who
- Shanghai Volant Aerotech Co. Ltd.
- Shanghai Volant Aerotech Co. Ltd., an eVTOL aircraft startup founded in 2021, has raised hundreds of millions of yuan in its latest funding round led by Beijing Robot Industry Fund. The funds will support R&D and airworthiness certification of its VE25 passenger eVTOL. Volant is a key player in China's low-altitude economy sector, which is projected for trial commercial use by 2025, with widespread UAV applications by 2035.
- Beijing Jingguorui Equity Investment Fund Management Co. Ltd.
- Beijing Jingguorui Equity Investment Fund Management Co. Ltd. is an investor in Shanghai Volant Aerotech Co. Ltd.'s recent funding round. They jointly manage the 10 billion-yuan Beijing Robot Industry Fund with Shoucheng Holdings Ltd., which was established in 2023 under the control of the Beijing municipal government.
- Shoucheng Holdings Ltd.
- Shoucheng Holdings Ltd. is one of the investors involved in the latest funding round for Shanghai Volant Aerotech Co. Ltd., backing the company's A1 Series funding totaling $100 million. They jointly manage the Beijing Robot Industry Fund along with Jingguorui Equity Investment.
- Yanchuang Capital
- Yanchuang Capital is one of the investors in the latest funding round for Shanghai Volant Aerotech Co. Ltd., an eVTOL aircraft startup. The article does not provide additional details about Yanchuang Capital beyond its participation in this investment round.
- Shanghai Huaqiang Investment Co. Ltd.
- Shanghai Huaqiang Investment Co. Ltd. is one of the investors that participated in a previous funding round for Shanghai Volant Aerotech Co. Ltd. In April, Volant raised nearly 100 million yuan from investors including Shanghai Huaqiang Investment and Jadex Capital LLC.
- Jadex Capital LLC
- Jadex Capital LLC is one of the investors in Shanghai Volant Aerotech Co. Ltd. Volant mentioned that in April, it raised nearly 100 million yuan from investors including Shanghai Huaqiang Investment Co. Ltd. and Jadex Capital LLC. The nature of their investment or specific details about the firm are not provided in the article.
- EHang Holdings Ltd.
- The article mentions EHang Holdings Ltd. as one of the leading eVTOL manufacturers in China, alongside XPeng Aeroht and Shanghai Volant Aerotech Co. Ltd. This positions EHang among the key players in the country's burgeoning "low-altitude economy," which China is promoting aggressively across various sectors like transportation, logistics, tourism, and manufacturing.
- XPeng Aeroht
- XPeng Aeroht, a subsidiary of electric car maker XPeng Inc., is a major player in the eVTOL industry. It secured the largest single eVTOL financing round to date, raising $500 million in October 2021. XPeng Aeroht is part of the global competition to develop flying cars, with potential market predictions reaching $1.5 trillion by 2040.
- XPeng Inc.
- XPeng Inc., an electric car maker, has a subsidiary called XPeng Aeroht, which raised $500 million in October 2021, marking the largest single eVTOL financing round to date. XPeng Aeroht competes in the burgeoning eVTOL market alongside major aviation and automotive companies.
- Boeing Co.
- The article mentions that globally, competition to develop flying cars is intensifying and includes aviation veterans such as Boeing Co. in the race. It highlights that companies like Boeing, along with Airbus SE and Bell, are actively showing interest in the eVTOL sector as part of the growing market for urban air mobility solutions.
- Airbus SE
- The article mentions that Airbus SE, along with other aviation veterans and auto companies, is showing interest in developing flying cars. This is part of a global competition for the growing eVTOL market, which Morgan Stanley predicts could reach $1.5 trillion by 2040.
- Bell
- The article mentions that Bell, an aviation veteran, is showing interest in developing flying cars as global competition in the eVTOL sector heats up. However, no specific details about Bell's activities or investments in this market are provided.
- Hyundai Motor Co.
- The article mentions that Hyundai Motor Co. is among the companies showing interest in the development of flying cars, as part of the growing global competition in the eVTOL (electric vertical-takeoff-and-landing) aircraft market.
- General Motors Co.
- The article mentions General Motors Co. as one of the auto companies showing interest in the development of flying cars. This is part of the growing global competition in the eVTOL and urban air mobility sector, which is predicted by Morgan Stanley to potentially reach a market size of $1.5 trillion by 2040.
- Toyota Motor Corp.
- The article mentions that Toyota Motor Corp. is showing interest in the development of flying cars, along with other major companies like Boeing, Airbus, and Hyundai. This highlights Toyota's involvement in the competitive eVTOL industry, which Morgan Stanley predicts could reach a market value of $1.5 trillion by 2040.
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What Happened When
- 2021：
- Volant was established.
- October 2021：
- XPeng Aeroht raised $500 million in the largest single eVTOL financing round to date.
- 2022：
- The Civil Aviation Administration of China (CAAC) released a roadmap predicting widespread use of unmanned aerial vehicles by 2035 and trials of aerial taxis by 2025.
- 2023：
- The Beijing Robot Industry Fund, a 10 billion-yuan investment fund under the control of the Beijing municipal government, was established.
- October 2023：
- Four Chinese ministries released a plan to put eVTOLs into trial commercial use by 2025.
- March 2024：
- Premier Li Qiang highlighted the low-altitude economy in the government's working report at “Two Sessions” 2024.
- April 2024：
- Volant raised nearly 100 million yuan from investors including Shanghai Huaqiang Investment Co. Ltd. and Jadex Capital LLC.
- By 2024：
- Volant secured five rounds of financing, each exceeding 100 million yuan, with backing from several state investors.
- 2024-08-19：
- Volant announced it secured hundreds of millions of yuan in a new funding round led by Beijing Robot Industry Fund.
AI generated, for reference only
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