Flying-taxi startup Skyports wins funding from ST Engineering

Bloomberg

Updated 2 August 2022 at 3:34 am·1-min read

Aerospace company ST Engineering is the final investor in a Series B capital raise and takes the latest round of fundraising to US$26.1 million, Skyports said — Skyports Ltd., which builds takeoff and landing sites for flying taxis, drew investment from Singapore Technologies Engineering Ltd. (PHOTO: REUTERS/Feline Lim)

By Angus Whitley

(Bloomberg) — Skyports Ltd., which builds takeoff and landing sites for flying taxis, drew investment from Singapore Technologies Engineering Ltd. amid plans for a terminal in the city for airborne electric cabs.

Aerospace company ST Engineering is the final investor in a Series B capital raise and takes the latest round of fundraising to US$26.1 million, Skyports said Tuesday. The first Series B round in March raised US$23 million.

Interest in electric vertical take-off and landing vehicles, or eVTOLs, has grown in recent years, with airlines around the world ordering hundreds of them. Skyports said in April it expects to start operating its first eVTOL terminal in Singapore in 2024.

Skyports, which also provides drone services, said the “heavily oversubscribed” fundraising showed investors were confident in the UK company’s future.

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