UK eVTOL maker Skyfly closes $10 million seed for Axe, Longbow
Representative image: jarmoluk / Pixabay
British eVTOL developer Skyfly closed a $10 million seed round led by HICO Investment Group on October 20, 2026 to certify its two-seat Axe aircraft.
What Happened
Skyfly Technologies, a British company developing a two-seat electric aircraft that takes off vertically, closed a $10 million (about €8.9 million) seed funding round on Tuesday, October 20, 2026. The round was led by HICO Investment Group, with Archangel, a European fund that invests in defence technology, taking part. Skyfly says it will use the money to seek US certification for its Axe aircraft, expand production in the UK and US, and speed up work on Longbow, an unmanned long-range version aimed at defence and government customers.
Key Facts
- Round: $10 million seed, closed October 20, 2026, led by HICO Investment Group with Archangel participating.
- Aircraft: the Axe, a two-seat eVTOL (electric vertical take-off and landing) aircraft for personal flying.
- Certification: Skyfly is seeking US Federal Aviation Administration (FAA) approval under the light-sport aircraft rules known as MOSAIC.
- Deliveries: first customer deliveries are planned for 2027, according to the company.
- Testing: the company says its prototype has flown more than 100 times, completed Europe's first airfield-to-airfield eVTOL flight, and holds experimental flight permits in the UK and the US.
- Longbow: an unmanned variant for cargo, which reports say cruises at about 160 km/h and uses a small turbine generator burning jet fuel or diesel to recharge its batteries in flight for longer range.
Why It Matters
eVTOL aircraft are a new class of flying machine that take off and land like helicopters but use electric motors and, often, wings for efficient forward flight. Most companies in the field are building air taxis for cities, which need large investments and complex certification. Skyfly has taken a different path: a small two-seat aircraft for private owners under lighter US rules, which it hopes will reach customers sooner and at lower cost.
The Longbow variant shows where much of the money in this sector is now coming from. Defence and government customers want uncrewed aircraft that can carry supplies over long distances without runways. Adding a fuel-burning generator, a hybrid system, extends range beyond what batteries alone can deliver, a trade-off between pure-electric flying and practical endurance. The involvement of a defence-focused fund reflects the shift of European investors towards dual-use technology, products that have both civilian and military uses.
The sector remains capital-intensive and risky. Certifying a new aircraft costs a lot and often takes longer than planned, and several eVTOL developers have needed repeated large funding rounds. A $10 million seed is small by the standards of air-taxi companies, which is part of Skyfly's pitch: a simpler aircraft under lighter rules.
For Indian readers, the story connects to activity at home. India also has start-ups developing vertical take-off cargo aircraft, such as Hyderabad's LogiXair, which announced new seed funding on October 21, 2026. Lighter certification paths like the one Skyfly is pursuing in the US are being watched by developers worldwide, as regulators decide how to approve these new aircraft.
| Item | Detail |
|---|---|
| Company | Skyfly Technologies, UK |
| Round | $10 million seed |
| Lead investor | HICO Investment Group |
| Aircraft | Axe (two-seat eVTOL), Longbow (unmanned cargo variant) |
| First deliveries | Planned for 2027 |
Impact
Short-term: Skyfly will pursue FAA light-sport certification, grow its team and production capacity, and develop the Longbow's hybrid propulsion.
Long-term: If the Axe is certified and delivered on time, it could open a market for personal electric vertical flight, while Longbow could compete for defence and logistics contracts.
Who is affected: Private pilots and aviation enthusiasts, defence and government buyers of uncrewed aircraft, aviation regulators, and investors in electric aviation.
Key Takeaway
UK eVTOL maker Skyfly closed a $10 million seed round led by HICO Investment Group on October 20, 2026 to seek US certification for its two-seat Axe aircraft and develop the unmanned Longbow for defence customers.
Questions and Answers
How much did Skyfly raise?
Skyfly Technologies closed a $10 million seed round on October 20, 2026, led by HICO Investment Group with Archangel participating.
What is the Skyfly Axe?
The Axe is a two-seat electric aircraft that takes off and lands vertically. Skyfly is seeking US FAA approval under light-sport aircraft rules and plans first customer deliveries in 2027.
What is Skyfly's Longbow?
Longbow is an unmanned, longer-range variant of the Axe for defence and government customers. It uses a small fuel-burning generator to recharge its batteries in flight, and reports say it cruises at about 160 km/h.
Who invested in Skyfly?
HICO Investment Group led the $10 million seed round, and Archangel, a European fund focused on defence technology, also took part, according to reports of the October 20, 2026 announcement.
Disclaimer: Prepared by the Peepals newsroom from publicly available sources with AI assistance. Information is accurate to the best of our knowledge at the time of publication and may change. Images may be representative. Not professional advice. Report an error via our contact page.
Sourced and fact-checked by the Peepals Global Editorial Team
Reported, fact-checked and published by the Peepals Global Editorial Team.
