Rothschild & Co, established for over 200 years and present in over 40 countries, is a leader in providing in-depth market intelligence and effective long-term solutions for clients in Global Advisory, Wealth & Asset Management, and Merchant Banking. Rothschild & Co’s unparalleled network of global knowledge provides specialist sector and product advice to some of the world’s leading blue-chip corporations and most promising start-ups to deliver successful investment on some of the most complex and industry-defining transactions.
Through its dedicated automotive advisory practice and global network of advisors, Rothschild & Co will work closely with AeroMobil’s management team to close its Series A funding round. In recent months AeroMobil has already held discussions with a number of leading automotive and aerospace strategic investors, as well as a number of family offices and venture capital funds.
To date AeroMobil has raised over €20 million from Patrick Hessel, Chairman of AeroMobil and founder and CEO of C2i, a leading producer of carbon-fibre components for automotive, aerospace and motorsport industries, IPM Group, asset manager and multi-family office investing in disruptive technologies in the sectors of energy, mobility and artificial intelligenceand Focus Capital Group based in Israel. Initial seed capital was provided by serial entrepreneur and start-up investor, Juraj Vaculik, Co-founder and CEO of AeroMobil. AeroMobil has also been actively supported by the Slovak government and its development and growth agencies.
AeroMobil has a clear vision to become a leading global player in the development and deployment of personal aerial vehicles for inter-city and intra-urban air mobility. AeroMobil is developing a unique suite of proprietary eVTOL capabilities, technologies and vehicles to take advantage of the growth in personal air mobility. Given its extensive experience to date, AeroMobil is strongly positioned to create a leading technology platform for urban air mobility and realise new opportunities across the value chain to realise its ambition to become the first certified commercially available flying car in history.
The funding raised through Rothschild & Co from its Series A round will be used for the next phase in the development and testing of the AeroMobil 4.0 (STOL) and evolve eVTOL technologies and prototypes already in conceptual development.
“AeroMobil is truly delighted to work with one the financial industry’s most respected advisors, given their proven track record in closing significant investment across the automotive and aviation sectors. As we advance closer to the testing and manufacturing phase of our vehicles, AeroMobil is looking for ‘smart money’, strategic investors who see the opportunity to invest and partner with a leading start-up such as AeroMobil so we can accelerate our efforts and together deliver on the promise of flying cars and urban air mobility.” – said Juraj Vaculik, co-founder and CEO of AeroMobil.
AeroMobil has made significant progress from its inception in 2010, culminating in the successful development of its first flying vehicle, the AeroMobil 4.0, which was unveiled to global acclaim at Top Marques Monaco in 2017. Since then AeroMobil has actively progressed the development of both its STOL and VTOL capabilities and is actively building the next experimental prototype of the AeroMobil 4.0 which is due to start flight testing later in 2019. The progress is captured and made available through regular updates on www.aeromobil.com/production-update/
This prototype will be used to develop and refine the vehicle’s systems and functionality in conjunction with regulators, AeroMobil having become the first start-up to successfully submit an application for airworthiness certification from the European Aviation Safety Agency (EASA) in December 2018. This demonstrates the progress the company has made in delivering on its plan to make flying cars a commercial reality. The AeroMobil 4.0 is just the first vehicle in the product plan to launch a range of vehicles that will transform urban air mobility through innovative eVTOL concepts which are currently being assessed and developed with major industry partners with global operations.
”We are delighted our application for airworthiness certification has been accepted by EASA. This represents a strong signal from the authority for our 4.0 concept based on an ongoing relationship for many months. The AeroMobil 4.0 is the only flying car in development that respects existing regulation as a light aircraft under CS 23 regulation. We believe the path towards global growth in personal aerial transportation lies in respecting and working in close collaboration with the regulatory authorities so we can develop new modes of safe and reliable air transportation.” – said Douglas MacAndrew, CTO of AeroMobil.
Since it first began work on its prototype in 2013 AeroMobil believes in an iterative approach to the introduction of flying car technologies for urban air mobility. The strategic focus is to build a sustainable business that capitalises on the market opportunity for flying cars while respecting technology readiness, the regulatory environment, current infrastructure and the commercial landscape. AeroMobil continues to develop its eVTOL technology and concepts in parallel with the successful development and commercial delivery of the AeroMobil 4.0 which will help to establish an early foothold in the market for flying cars.
AeroMobil will adopt a similar approach to leading electric car brands, who kick-started the early EV market through the launch of high-end sports cars to demonstrate the potential and opportunity for EVs. Similarly, the first vehicle from AeroMobil, the 4.0 STOL, will provide the business with a strong first mover advantage. The AeroMobil 4.0, a super-car with super-powers, will enable the business to gather invaluable data to improve our learning about the vehicle and its operation while addressing an existing market for super-cars and light aircraft. AeroMobil believes this is a necessary interim step to support the introduction of flying cars as eVTOL still requires a significant step-change and development in technology, infrastructure and regulatory environments to be commercially viable and successful.
Commenting on the appointment and AeroMobil’s strategy, Patrick Hessel, Chairman of AeroMobil said: “AeroMobil as a business has reached the stage of a truly global scale-up ready to partner with major industry players from the automotive and aerospace industries. In the future, we plan to sit at the intersection of automotive, aerospace and tech to develop the cutting-edge technologies and systems to realise the long-term opportunity of fully-autonomous, electric VTOL vehicles to transform personal and urban air mobility. AeroMobil will bring a high-volume approach to a traditionally low-volume aerospace industry, significantly cutting components costs via smart design, novel materials and production automation whilst fully conforming with civil aviation industry requirements.”
AeroMobil continues to forge ahead with its unique approach to capitalise on the market opportunity for urban air mobility. For this reason, the company is raising additional capital to support its ambition and rapidly commercialise its technology to deliver value to customers and shareholders. The AeroMobil 4.0 allows the business to achieve this goal within the existing regulatory framework and revolutionise personal transportation to make it vastly more accessible while delivering a unique experience and significantly faster door-to-door travel over short and medium distances. The AeroMobil 4.0 is available to pre-order online via the AeroMobil website at www.aeromobil.com/form/