eVTOL Startup WEFLY Secures Tens of Millions of Dollars in Angel Investment

On Thursday, 36Kr reported that Chinese electric vertical take-off and landing (eVTOL) startup WEFLY has announced the completion of tens of millions of dollars in angel investment. The co-investors were Ince Capital and Linear Capital, while Canglan Capital served as the exclusive financial adviser. The funds will be mainly used for product R&D and the establishment and expansion of core technical teams.

WEFLY stated: “our products are airplanes, which, unlike flying cars, are pure flying crafts that are 100% electric and can take off and land vertically. They can do away with the need for a runway versus the conventional implosion powered fixed-wing aircraft.”

The company also says that its model “is quieter and has a longer range than ordinary electric multi-rotor aircraft. It can operate within cities and between cities, or can take off and land vertically directly on top of buildings or in parking lots. Moreover, its operating costs are very low.”

WEFLY said that eVTOL manufacturers need to tailor a product that best suits them according to the actual needs of customers. The core of eVTOL does not depend on a breakthrough in a certain technology, but on the integration of various brand-new and traditional systems. Its route is based on the point-to-point travel demand within and between cities.

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In terms of commercialization, WEFLY has been focusing on technology research and development in recent years. It will launch reliable and airworthiness-certified aircraft as soon as possible. In the future, it will work on small-scale trial operation, and provide services in cargo transportation, medical transportation, transportation of emergency materials, and sightseeing test rides in tourist attractions when conditions permit.