Airbility, an advanced air mobility (AAM) company based in South Korea, announced on the 22 January that it has secured 2.5 billion KRW (USD1.7 million) in Pre-Series A funding, bringing its cumulative investment to 3.7 billion KRW (USD2.5 million).
The Pre-Series A funding included a new investment from Samho Green Investment and follow-on investments from Base Ventures, Stonebridge Ventures, and Mashup Ventures. “With this funding, Airbility has strengthened its foundation for eVTOL (electric vertical take-off and landing) aircraft commercialization and global market entry,” said the company in a press release. “Particularly notable is the active follow-on participation by initial seed investors, demonstrating strong trust in Airbility’s advanced technological capabilities and market potential.
“Airbility plans to use the funds to commercialize its first unmanned eVTOL aircraft, AB-0, for wide-area surveillance and reconnaissance. This 10-foot wingspan eVTOL aircraft flies at 125mph and has more than 2 hours of endurance. Airbility finished prototyping AB-0 and its first flight test last year… The AB-2 is Airbility’s flagship product, a two-seat manned aircraft being developed to meet the MOSAIC rule introduced by the FAA in 2023. The AB-2 is a high-performance, light sports aircraft (LSA) capable of flying 250 miles at 250mph and is targeted for commercialization in 2028. The company was co-founded by a group of experts from the Agency for Defense Development(ADD), Hyundai Motor Company, and LG Electronics in 2023.”
Jinmo Lee, Co-CEO of Airbility, stated, “This Pre-Series A funding marks a pivotal step in laying the groundwork for technology commercialization and global market expansion. We aim to create new value in the global aviation market through sustainable mobility solutions.”
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