Skyfly raises $10 million to move personal eVTOL Axe toward production

Skyfly Technologies closed a $10 million seed round to certify and scale its two-seat Axe eVTOL, with first customer deliveries targeted for 2027. The UK company also plans to accelerate its hybrid Longbow unmanned aircraft for defense and government use as FAA rule changes open a new path for electric vertical flight.

Why it matters: - Skyfly is trying to turn personal vertical flight into a certified consumer product, not just a prototype. - The funding supports certification, manufacturing scale-up in the UK and US, and development of defense-oriented aircraft. - The raise comes as new FAA rules create a faster route to market for electric vertical takeoff aircraft built for private owners.

What happened: - Skyfly Technologies closed a $10 million seed round. - HICO Investment Group led the round. - Archangel, a European defense technology fund, also participated. - The company says the investment moves the two-seat Axe from flying prototype to certified production aircraft. - Skyfly announced the funding from Thorpe Mandeville, United Kingdom, on October 20, 2026.

The details: - The Axe is a two-seat electric aircraft that takes off like a helicopter and flies like an airplane. - The FAA’s MOSAIC reforms, which took effect in July 2026, rewrote Light Sport Aircraft rules to include electric propulsion, multi-motor designs and vertical takeoff aircraft. - The new funding will support FAA light-sport certification of the Axe under those rules. - Skyfly plans to grow production capacity in both the UK and the US. - First customer deliveries are planned for 2027. - The company says the Axe has completed more than 100 piloted prototype flights. - Skyfly says the aircraft completed Europe’s first airfield-to-airfield eVTOL flight. - The company holds experimental flight permits in the UK and the US. - A dedicated flight test team has been flying in the US since 2025. - The Axe drew crowds at EAA AirVenture Oshkosh in 2025 and 2026. - Skyfly says 61 private customers are on the order book. - The aircraft has a projected running cost of about £70, or $90, per flying hour. - Skyfly says comparable two-seat trainers such as the Robinson R22 and Cessna 152 cost about £300, or $400, per flying hour. - The Axe has a range of more than 100 miles, a flight time of 60 to 90 minutes, a cruising speed of 100 mph and a 200 kg payload. - The aircraft does not need a runway. - The airframe is designed to accept new battery and motor technology as it becomes available. - Skyfly says the aircraft uses advanced composite structures to reduce weight and improve efficiency. - The Axe hovers on eight fixed-angle electric motors and uses its wings for forward flight. - The design avoids tilting motors or rotating wings. - If power is lost, the aircraft glides. - Under the updated FAA rules, the Axe is enabled as a two-seat, Light Sport-class electric Vertically Capable Aircraft, or eVCA. - The category is designed for private ownership and operation with simpler pilot qualification requirements. - Skyfly is also developing Longbow, a hybrid-electric unmanned aircraft. - Longbow is designed for cargo resupply, ISTAR, medevac and ship-to-shore logistics. - The company says Longbow has a range of more than 400 miles and a 200 kg payload. - Skyfly has been enrolled in the UK Ministry of Defence’s heavy lift challenge. - Both aircraft will be built at Skyfly’s 10,000-square-foot manufacturing and assembly facility in the UK.

Between the lines: - The round signals investor belief that FAA rule changes can unlock a real market for personal eVTOL aircraft. - Skyfly is positioning the Axe as a simpler and less costly alternative to legacy light aircraft and to rotor-heavy eVTOL rivals. - The company is also using the same platform and propulsion work to pursue defense demand, which could diversify revenue beyond private aviation.

What's next: - Skyfly will complete certification work for the Axe under the FAA’s updated standards. - The company will expand production capability in the UK and US. - Skyfly will continue development and demonstration of the hybrid propulsion system behind Longbow. - Further defense announcements are expected.

The bottom line: - Skyfly is betting that new FAA rules, lower operating costs and a simpler winged design can help personal electric vertical flight reach the market in 2027.