Vertaxi, a Guangdong-based startup specializing in electric vertical take-off and landing (eVTOL) aircraft, has made significant strides in the advanced air mobility sector with its recent funding success. The company raised over 200 million yuan ($28.3 million) in its latest Pre-B funding round. This round was led by Zhongshan Investment Holdings, a venture capital fund backed by the local government in Zhongshan, Guangdong province, which highlights the growing government interest in this burgeoning technology.
eVTOL Technology and the Matrix 1 Prototype
Vertaxi’s primary product, the Matrix 1 eVTOL prototype, is at the core of its innovation strategy. The aircraft is designed for advanced aerial mobility (AAM), combining vertical take-off capabilities with fixed-wing cruising efficiency. With 16 lift rotors for vertical ascent and descent, and four forward flight propellers, the Matrix 1 has a range of approximately 250 kilometers and can cruise at speeds of 200 km/h. These features are ideal for urban air mobility, which is being touted as the next frontier in transportation for congested cities. The Matrix 1 has an impressive payload capacity of 500 kg, making it suitable for both cargo and passenger transport in the future.
Capitalizing on China’s Booming eVTOL Sector
Vertaxi is part of China’s rapidly expanding eVTOL sector, which has seen considerable growth due to the country’s advances in electric vehicle (EV) technology and battery innovations. The funding secured by Vertaxi will be primarily directed towards the continued development of the Matrix 1 prototype, as well as upcoming test flights and further scaling the production capabilities. The support from Zhongshan Investment Holdings reflects a broader trend of local governments in China backing tech-driven companies that have the potential to revolutionize transport infrastructure.
China’s aggressive push into electric air mobility is evidenced by the involvement of various government agencies in fostering eVTOL innovation. Shanghai, for instance, announced an action plan to seek technological breakthroughs in manned eVTOLs, showing alignment between Vertaxi’s objectives and national priorities.
Future Plans and Market Potential
Vertaxi aims to position itself not just in China but as a global player in the eVTOL market. The company has expressed plans to begin with uncrewed cargo deliveries, gradually expanding into passenger transport as its technology matures. The Matrix 1 is set to undergo its first test flights in 2024, a critical step towards proving the safety and efficiency of its aircraft.
The global eVTOL market is expected to see significant growth in the coming years, with major players like Joby Aviation and Archer already making waves in the United States. Vertaxi’s ability to secure government-backed funding places it in a strong position to compete internationally.
With its innovative technology and recent influx of capital, Vertaxi is well-positioned to capitalize on the burgeoning eVTOL market, which is set to revolutionize urban transportation and logistics on a global scale. The company’s focus on scaling operations and developing both uncrewed and crewed applications will be crucial as it looks to carve out a significant share in this rapidly evolving industry.