AeroMobil secures more funding

AeroMobil has netted more investment from UK venture capital firm IPM and Hungarian entrepreneur Zoltan Varga.

The London and Bratislava-based investor IPM first invested in the Slovakian VTOL manufacturer AeroMobil in July 2017. That amount was not disclosed and neither has this latest investment been. However, the total investment from IPM equates to “seven figures” in euros.

AeroMobil is currently developing the AeroMobil 4.0 and 5.0 flying-car prototypes. The Aeromobil 4.0 is a short take-off and landing (STOL) aircraft and the AeroMobil 5.0 a VTOL and the company is looking at having a vehicle on the market in 2020.

Initially, AeroMobil hoped to have a flying car on sale by 2017 but it delayed the entry to market in 2016.

“We are delighted to have received an investment and further validation from a visionary investor Mr Varga with support of IPM, a leading investment platform in Central Europe,” Juraj Vaculik, CEO and Co-Founder, AeroMobil said. 

“With this investment we remain 100% focused on getting our vehicle ready for testing this year and delivery to our first customers in the upcoming years. We are confident the engineering and technology approach we have taken will ensure this vehicle will meet growing demand for personal air transport.”

So far, AeroMobil has netted predominantly Central European investors – including the Slovakian  government which has put two lots of undisclosed funding into the AeroMobil.

Hungry Investor

The Hungarian investor Mr Varga serves as CEO and chairman of Central-Fund Kockázati Tokealap-kezelo Zrt and the chairman of the Centech New Hungary Capital Fund. Varga previously invested in Hungarian low-cost carrier WizzAir

Marian Bocek, IPM co-founder and managing partner said: “We are truly honoured to work with Mr Varga who is an iconic investor best known for his investment in WizzAir – a leading airline operator in Central Europe. We appreciate that he recognises AeroMobil’s global potential. By investing in this company, Mr Varga is helping IPM to build bridges within the Danube Valley, which we in turn are helping become the CEE region’s innovation hub.

“Cooperation in this region is crucial, which is why we connect smart money investors such as Mr Varga with Central European technology unicorns like AeroMobil. This is the core of IPM’s and IPM Growth’s DNA,” added Marian Gazdik, IPM partner.

AeroMobil has also seen interest from Investors outside of Central Europe. The manufacturer adds that it has seen interest from “several Asian strategic and fiscal companies”.