image credit: Bamboo Works
Key Takeaways:
Volant has raised a fresh 1 billion yuan in its series C+ funding, just a month after it raised $300 million in its series C
The eVTOL maker reportedly plans to list in Hong Kong, boasting a well-connected executive team and a product in the regulatory certification process
When it comes to electric vertical take-off and landing (eVTOL) vehicles, Shanghai Volant Aerotech Co. Ltd. certainly looks like a company that's quite well fueled up in terms of industry prowess, investor backing and its path to a Hong Kong IPO. The company has just completed its C+ series funding, raising a fresh sum of nearly 1 billion yuan ($148 million), just a month after raising $300 million in its series C round, according to media reports.
Despite its short history, only founded in 2021, Volant also has a big list of backers, both private and government-linked, which we'll review shortly. Its founding team reads like a who's-who of people from the Chinese and foreign aviation sectors. And last but perhaps most important, it appears to have a product that is rapidly moving towards flight certification, as well as a strong order book from companies that have expressed interest in its products.
All this seems to point to an IPO in the not-to-distant future, and Chinese media have reported Volant has set its sights set on Hong Kong, citing insider sources. Such a listing looks likely to value Volant at more than $1 billion, given that it has raised 5 billion yuan to date, equal to about $740 million.
All that said, we'll take a closer look at this high-flying company's credentials, which really do look quite impressive. Volant is zooming into an increasingly crowded global eVTOL market, though also one that's expected to grow rapidly as such small vehicles become increasingly common for the types of short flights well suited for air taxis, delivery vehicles and at scenic spots.
Many countries are putting strong emphasis on their low-altitude economy for such functions, which means Volant and its peers will get strong policy support, especially in ...
