Skyfly Raises $10 Million to Bring Personal Vertical Flight to Market

On 20 October 2026, Skyfly announced a US$10 million seed round led by HICO Investment Group, a growth equity investor that helps technology companies scale internationally. Archangel, a €50 million early-stage fund based in London and Tallinn that focuses on defence technology, also took part.

The company says the funding will be used to:

• Move the Axe from prototype to certified production.
• Complete certification with the US Federal Aviation Administration (FAA) under the light-sport category.
• Grow the team and production in the UK and the US.
• Speed up development of hybrid propulsion for Longbow, its unmanned aircraft.

Congratulations to Michael Thompson and the whole Skyfly team. Raising money for aircraft development takes patience, and this is a significant step.

What is the Axe?

The Axe is a fully electric, two-seat winged aircraft that takes off and lands vertically. It hovers on eight fixed electric motors and then flies on its wings like a conventional aircraft. There are no tilting motors or rotating wings, which keeps the design simple, and it can glide if it loses power.

According to Skyfly, the Axe will:

• Fly more than 100 miles on a charge.
• Stay airborne for 60 to 90 minutes.
• Cruise at around 100mph.
• Carry a 200kg payload.
• Take off and land without a runway.

The company projects running costs of about £70 per flying hour. It compares that with around £300 an hour for common training aircraft such as the Robinson R22 helicopter and the Cessna 152. If those figures hold in service, that is a very different cost of flying.

Why does the timing matter?

Regulation has long been the main obstacle for small electric aircraft. Building one is hard. Getting it certified, and finding pilots who are allowed to fly it, has often been harder.

That changed in the US in July 2026. The FAA's MOSAIC reforms updated the Light Sport Aircraft rules so that electric, multi-motor and vertical take-off aircraft can now fit within the category. Light sport aircraft also have simpler pilot qualification requirements than larger aircraft.

Skyfly says the Axe was designed with exactly this category in mind. A clear certification route makes the business far easier to plan, for the company and for its investors.

How far has Skyfly got?

Further than many companies in this field. Skyfly reports:

• More than 100 piloted prototype flights.
• Europe's first airfield-to-airfield eVTOL flight.
• Experimental flight permits in both the UK and the US.
• 61 private customers on the order book, with first deliveries planned for 2027.
• Appearances at EAA AirVenture Oshkosh, the world's largest aviation gathering, in 2025 and 2026.

The aircraft are built at a 10,000 sq ft facility in the UK, and the company also has a US office in Auburndale, Florida. Reservations for the Axe are open at £1,000.

What is Longbow?

Longbow is an unmanned, hybrid-electric version of the aircraft for defence and government customers. Skyfly says it will have a range of more than 400 miles and carry a 200kg payload. Planned uses include resupply, surveillance and reconnaissance, medical evacuation and ship-to-shore logistics.

Skyfly has been enrolled in the UK Ministry of Defence's heavy lift challenge, and Archangel's involvement reflects investors' growing interest in technology that serves commercial and defence markets alike.

Longbow is a good example of dual-use technology. One platform can open two markets: private flyers on one side, defence and government on the other. More routes to revenue make for a sturdier business. They also mean more work explaining the company to investors who usually know only one of those markets. Skyfly appears to have found investors who understand both.

Why does this matter for UK innovation?

Skyfly pitched at Brave New World at Google earlier this year, alongside six other companies working in defence, space, aerospace and dual-use technology. It was a strong field, and it is good to see one of those companies reach the next stage so clearly.

The story also shows what hardware innovation demands. Years of engineering, testing and flying come before any revenue, and regulators set the pace as much as engineers do. Companies on that path usually need several kinds of funding: equity from investors who understand long timelines, and non-dilutive support such as grants and R&D tax relief to help pay for the development work along the way.

Where does Skyfly go from here? Certification, production and the first deliveries in 2027. We look forward to seeing an Axe overhead.

Frequently asked questions

How much has Skyfly raised?

Skyfly has raised a $10 million seed round, led by HICO Investment Group, with Archangel also taking part.

What is the Skyfly Axe?

The Axe is a two-seat, fully electric aircraft that takes off and lands vertically and flies on its wings. Skyfly says it will have a range of more than 100 miles and a cruise speed of around 100mph.

When will the Skyfly Axe be delivered?

Skyfly plans to deliver the first aircraft to private customers in 2027.

What are the FAA MOSAIC reforms?

MOSAIC is a set of US Federal Aviation Administration reforms, in force from July 2026, that update the Light Sport Aircraft rules so electric, multi-motor and vertical take-off aircraft can be certified in the category.