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.
CycloTech CEO Hans-Georg Kinsky says, “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.”
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.
What does CycloRotors offer?
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.
From 2016 to 2023, CycloTech has advanced through six generations of CycloRotors. The ongoing flight tests, initiated in 2021, for the current version mark progress.
Markus Steinke, Chief Development Officer at CycloTech, says, “CycloRotors open the door to a new mass market in sustainable aviation, with the potential for millions of vehicle propulsion units to be produced per year.”
“The long-term goal with our CycloRotors is to turn the vision of the flying car into reality.”
Capital utilisation
The capital will support CycloRotor’s preparation for European Aviation Safety Agency (EASA) certification, setting the stage for a marketable product by 2030.
Maximilian Schönfeldt, MD of Breeze Invest, says, “Our commitment to CycloTech reflects our strong confidence in the potential of urban air mobility. We are convinced that CycloTech’s unique technology will revolutionise how we move from A to B in the long term.”
“Make individual air mobility as normal as driving a car”
Founded in 2004 and led by CEO Hans-Georg Kinsky, CycloTech claims to lead in aviation propulsion with its CycloRotor based on the Voith-Schneider Principle.
CycloTech specialises in CycloRotor development, aircraft integration, and Rotor-Flight Control systems. It offers patented technology through licensing. Collaborating with partners, the company contributes propulsion expertise to develop innovative aircraft configurations.
“We re-invent flying,” says the company. “With our 360° thrust vectoring CycloRotors, we develop a new, sustainable, highly manoeuvrable and environmentally accepted propulsion solution for the 21st century. We enable simple and comfortable VTOL operations to be part of everyday life.”
CycloTech aims to make individual air travel as commonplace as driving a car, envisioning a sky open to everyone.
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