AutoFlight Secures $ 100 Million (USD) Investment in Series A Funding from Team Global and Founder Lukasz Gadowski
Investment for global expansion and increased freight production
– AutoFlight has secured Series A financing of $ 100 million (USD) from European technology investor Lukasz Gadowski and his company, Team Global.
– Gadowski appointed to AutoFlight board of directors.
– The AutoFlight autonomous passenger eVTOL aircraft, V1500M, successfully completed its first test flight in October.
SHANGHAI and BERLIN, 22 November 2021 / PRNewswire / – AutoFlight, a global electric vertical take-off and landing (eVTOL) startup specializing in the development and manufacture of autonomous aerial vehicles, announces a $ 100 million (USD) Series A investment by European technology investor Lukasz Gadowski and his company, Team Global. The capital from the financing will be used for international expansion as well as to increase eVTOL freight production for customers. AutoFlight also announced that Gadowski has been appointed to its board of directors.
AutoFlight eVTOLs are designed to be safe, clean, quiet, affordable and comfortable. To achieve this, the company has worked hard to develop the best technological configuration and the best business model suitable for achieving these goals. The basis of its design is a so-called elevator and cruise configuration. It combines superior reach and safety with the benefits of minimal complexity, resulting in certifiability to the highest standards of aviation safety. With the recent completion of the maiden flight of its V1500M, the company is moving forward with additional flight tests and plans to go into mass production and have the vehicle certified for flight by 2024.
“AutoFlight is pleased to welcome Lukasz Gadowski as a new member of our board of directors ”, declared Tian yu, Founder, President and CEO of AutoFlight. “His knowledge and experience will help us expand our R&D efforts and grow our operations globally. We are determined to open the skies for individual mass air transport. Over the past month, our autonomous eVTOL passenger aircraft, the V1500M, successfully completed its maiden flight. We continue to insist on speeding up our testing and certification work. “
“We are very proud and delighted to partner with such an incredible company as AutoFlight, its fantastic team and founder, Tian yu“Gadowski said.” I admire Tian. He is an extraordinary entrepreneur in Asia and the United States and has exceptional experience as an airplane and helicopter pilot as well as in supply chain management. He has a unique way of combining vision, execution and heart. The world does not need to build more roads; it must preserve resources and nature. Autonomous air mobility is an emerging industry poised to grow, and I have no doubts that AutoFlight will be one of its major players. “
“TDK Ventures believed in Tian and AutoFlight early on,” said TDK Ventures president Nicolas Sauvage. “Entrepreneurs like him are heroes to us. Our goal in working with AutoFlight is to help them realize their dreams of a sustainable and attractive future for all.”
“His accomplishments and those of AutoFlight in just one year are simply incredible. We are honored to contribute to this pioneering journey.
Team Global, founded by Gadowski who is also its CEO, owns stakes in a dozen aviation startups around the world, including drones and flight controls in addition to air taxis. It believes in the future of sustainable aviation and invests in the best of every sub-segment or region of the world. He actively pursues young companies and actively contributes to them. Each company in its portfolio has significant potential and its own particular strengths in regional, technical and functional terms.
AutoFlight is one of the first Chinese technology companies to develop autonomous eVTOLs, including high payload logistics vehicles and autonomous unmanned aerial vehicles (UAVs). The company now has over 10,000 take-off and landing hours and has tested in all kinds of extreme conditions. Autoflight also has a manufacturing capacity of 66,000 square meters in Dinfeng, allowing the company to vertically integrate eVTOL manufacturing for the most cost effective unit economy compared to its global competition.
About the Global Team
The European technology holding company Team Global (based in Berlin) has systematically developed expertise in aeronautics over the past few years, gradually expanding its portfolio to around ten investments around the world. In Europe, Team Global supports Volocopter in Europe, Archer in the United States, and now AutoFlight in Asia. Team Global also owns a stake in Zapata, a French company for innovative individual mobility on the water and in the air. In addition, there are commitments in the areas of supply, flight control and drones. Future-oriented forms of energy production (Seaborg, HB11) and energy storage (Theion) complete the portfolio.
About automatic theft
AutoFlight is a global high-tech startup, born in China, specializing in the development and manufacture of autonomous aerial vehicles. AutoFlight’s mission is to provide safe and reliable air logistics systems and urban air mobility solutions for society. By leveraging new aviation technologies, new materials, artificial intelligence, autonomous driving and 5G, AutoFlight is actively driving the development of the eVTOL industry.
AutoFlight is headquartered at Shanghai with a research center on passenger flight control systems at Europe, an operations and testing center in the United States. The company has a diverse eVTOL product line, with a focus on large-scale logistics aircraft and autonomous passenger air vehicles.
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SOURCE Automatic flight