Skyfly's $10M Bet: The Electric Aircraft That Could Change Everything

Jan de Vries · 2026-10-21

Skyfly Technologies, a British company building electric and hybrid-electric vertical take-off aircraft, just closed a $10 million Seed round. The money comes from HICO Investment Group, a growth equity firm, and Archangel, a $50 million fund focused on next-generation defense technology. It's a big vote of confidence for a startup that's been quietly flying under the radar since 2019. Based in Thorpe Mandeville, Oxfordshire, Skyfly is developing two aircraft: the Axe, a two-seat fully electric verti­cally capable plane for civilian use, and the Longbow, a hybrid-electric unmanned aircraft for defense and government customers. Both are designed to operate without a runway, which opens up a lot of possibilities. ### The Axe: A Different Kind of eVTOL Most eVTOL concepts rely on tilting motors or rotary wings—complex systems with lots of moving parts. The Axe takes a different approach. It uses eight fixed-angle electric motors to lift off like a helicopter, then transitions to forward flight where its wings generate lift. No tilting mechanisms, no rotors that swing around. That simplicity is deliberate: fewer points of failure, and in an emergency power loss, the winged design lets it glide rather than fall. The specs are impressive for a two-seater: - Range: over 100 miles - Flight time: 60 to 90 minutes - Cruise speed: 100 mph - Payload: 440 pounds (200 kg) - Operating cost: around $90 per flight (€83.57) That operating cost puts it in favorable territory compared to legacy two-seaters like the Robinson R22 or Cessna 152. And since it can take off from a conventional runway too, it's not limited to vertiports. ### Longbow: For the Defense Crowd The Longbow is Skyfly's second aircraft, aimed at military and government buyers. It's a hybrid-electric unmanned system with a range exceeding 400 miles and the same 440-pound payload. It's built for cargo resupply, intelligence and surveillance, medevac, and ship-to-shore logistics. The idea is to move meaningful payloads over significant distances without needing a runway—something that's been a clear gap in the market. > "Longbow addresses a clear requirement for unmanned systems that can move meaningful payloads over significant distances without relying on a runway," said Nicholas Nelson, General Partner at Archangel Ventures. "Archangel invests exclusively in defense-first companies, and our backing of Skyfly reflects the potential we see in its technology to deliver mission necessary capability for the modern battlespace." ### Traction and Timing Skyfly isn't just a paper concept. The Axe prototype has completed more than 100 piloted flights, including Europe's first airfield-to-airfield eVTOL flight. It holds experimental flight permits in both the UK and the US, and 61 private customers globally have already placed orders. That's real demand before the aircraft is even certified. The timing is also working in Skyfly's favor. The FAA's MOSAIC reforms, set to take effect in July 2026, rewrite the rules for Light Sport Aircraft to include electric propulsion, multi-motor architectures, and vertical take-off aircraft. Historically, this category was limited to private owners, not commercial operators. The Axe, classified as a Light Sport-class eVCA, was designed precisely for this new rulebook. "This investment gives us the resources to take the Axe from a flying prototype to a certified aircraft in customers' hands," said Michael Thompson, founder and CEO of Skyfly. "The FAA's MOSAIC rules have opened a route to market that simply didn't exist before." ### What This Means for the eVTOL Race Skyfly's approach is a reminder that not every eVTOL needs to be a flying car. By focusing on simplicity, certification, and a clear use case, the company is carving out a niche that could scale. The $10 million Seed round is a strong signal that investors see a path to market—and with the regulatory landscape shifting, the next few years could be pivotal. For those watching the European startup scene, Skyfly is one to keep an eye on. It's not just about the technology; it's about execution. And so far, they're executing.