Austria-based CycloTech, an aviation tech firm that claims to be a pioneer in developing innovative flight propulsion technology, announced that it has secured €20M in funding just a few weeks after opening the funding round.
The company is in talks with investors to reach a €53M funding goal this year.
With backing from investors Breeze Invest and Konos Holdings, CycloTech aims to propel the
development of the inaugural full-scale prototype for the CycloRotor propulsion system.
CycloTech’s electric CycloRotors allow for fully circular, 360° thrust vector control, a departure from
traditional aircraft propulsion systems (jets, propellers, rotors) limited to thrust in one direction. The
tech enables the development of compact, comfortable eVTOL aircraft with vertical-to-horizontal
flight transitions, setting it apart from current market solutions.
The capital will support CycloRotor’s preparation for European Aviation Safety Agency (EASA)
certification, setting the stage for a marketable product by 2030.
https://siliconcanals.com/crowdfunding/cyclotech-secures-20m/
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