The Austrian aviation technology company CycloTech, which is developing an innovative flight propulsion technology, has secured a EUR20 million investment just a few weeks after opening the funding round.
CycloTech CEO Hans-Georg Kinsky emphasised the importance of the financing: “This capital injection is key to launching our commercial activities and the start of revenue generation. The potential applications of our propulsion system are diverse. We are already in talks for its use in the logistics sector, construction industry, as a flying crane, but also high-precision drones for the defence industry are conceivable as well.”
“From 2016 to 2023, a total of 6 generations of CycloRotors were developed” according to the press release. “The current version has been undergoing flight test operations since 2021. The funding from investors Breeze Invest and Konos Holdings will enable further development of the first full scale prototype of the CycloRotor propulsion system.
“CycloTech is already in dialogue with other potential investors to reach its funding target of EUR53 million this year. This capital will be used to prepare the CycloRotor for certification by the European Aviation Safety Agency (EASA). This latest financing round thus lays the foundation for CycloTech’s plan to develop a marketable product by 2030.
“CycloTech’s unique, electrically driven CycloRotors make it possible to vary the thrust force and direction in a fully circular path. This 360° thrust vector control differs fundamentally from conventional aircraft propulsion systems (jets, propellers, rotors), which can only generate thrust in one direction.
“CycloTech’s CycloRotor technology enables the development of smaller, more comfortable, and highly manoeuvrable eVTOL aircraft that stand out from current market solutions. The technology allows a seamless transition from vertical to horizontal flight phases without the aircraft having to change its attitude or activate additional propulsion systems.”
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(Image: Cyclotech)