Geely-backed eVTOL maker AEROFUGIA closes Series B financing round

Beijing (Gasgoo)- Recently, Geely-backed eVTOL (electric vertical take-off and landing) developer AEROFUGIA completed its Series B financing round, raising several hundred million yuan for the company. This marks the largest single financing event in China's low-altitude economy eVTOL sector in the past two years.

Photo credit: AEROFUGIA 

The funding round was led by Orinno Capital, with additional investments from TH Capital, CAS Star, and others. The funds will primarily be used to advance the R&D and commercialization of AEROFUGIA’s fully self-developed AE200 eVTOL, accelerating the deployment of urban air mobility and promoting high-quality development of China's low-altitude economy.

Since its inception, AEROFUGIA has attracted significant capital interest, completing three rounds of market-oriented financing to date.

Notably, shortly after securing Series B funding, AEROFUGIA made significant progress in product development. Its fully self-developed strategic product, the AE200 eVTOL, successfully completed all full-scale, full-weight, and full-envelope tilt-transition flight tests, becoming the first in China and the second globally to achieve this milestone. Additionally, the AE200 has entered the compliance planning and approval phase for airworthiness certification, positioning AEROFUGIA at the forefront of the industry in both development and certification progress.