ZEROG secures over 100 million yuan in Series A+ financing

Shanghai (Gasgoo)- Zero Gravity Aircraft Industry (ZEROG), a Chinese new energy aircraft manufacturer, announced the successful completion of its Series A+ financing with over 100 million yuan raised, according to a statement in ZEROG's official website. The fresh round is led by Feixi County Canal Industry Fund Co., Ltd. (Feixi Industry Investment), with Shenzhen Sanhang Venture Capital Co., Ltd. (SANHANG) participating as a co-investor.

Photo credit: ZEROG

The funds will be used to support the R&D, manufacturing, and commercial operations of multiple new energy aircraft models under ZEROG. A significant portion will be allocated to the airworthiness certification process for the ZG-ONE multi-rotor eVTOL (electric vertical take-off and landing) aircraft following its type certificate application, as well as the flight testing of the full-size ZG-T6 tilt-rotor eVTOL aircraft.

The company said that the financing will also further advance its expansion into the green aviation sector, accelerating the construction of green aviation flight camps focused on eVTOL and electric fixed-wing aircrafts.

The leading investor Feixi Industry Investment is a state-owned enterprise controlled by the Feixi County government to promote regional economic development. Guo Zhen, Executive Director of Feixi Industry Investment, highlighted that the low-altitude economy is a pillar of modern productivity, with eVTOL aircraft playing a key role in urban air mobility, logistics, and tourism.

SANHANG, the co-investor of the round, focuses on the industrialization of technological achievements. The firm has set up engineering laboratories in several key areas, including drones, robotics, marine intelligence, civil aviation, artificial intelligence, new materials, and new energy. It is dedicated to fostering technology startups, establishing itself into a cradle of industry-leading technology companies.

To date, ZEROG has completed five rounds of financing: In March 2021, it raised nearly 10 million yuan from Lanchi Venture Capital in the seed round; in June 2023, the company secured nearly 100 million yuan in its angel funding round, co-led by Lenovo Capital and Incubator Group and QF Capital; in August 2023, it completed another 100-million-yuan strategic financing round, led by Nanjing Communication Engineering Co., Ltd.; in August 2024, it raised nearly 100 million yuan in Series A financing, with Hefei Hi-Tech VC taking the lead; in December 2024, the company closed its Series A+ round with over 100 million yuan raised, led by Feixi Industry Investment.