On September 26, 2022, SkyDrive, a developer of "flying cars" and "logistics drones," announced that it raised 9.6 billion yen ($66.5M) in a Series C round.
SkyDrive was founded in July 2018 with the mission of "driving a once-in-a-century mobility revolution" and is developing "flying cars" and "logistics drones" to realize the future of using the sky for everyday mobility. In the development of "flying cars," the company is the only one in Japan to conduct public manned flight tests, and is involved in the design of the system as a member of the public-private sector council. The company is currently developing a two-seat "flying car," which it hopes to launch in the Osaka Bay area in 2025, and a "logistics drone" capable of transporting 30 kg of cargo, which is being used at work sites, mainly in mountainous areas.
In this equity and debt rounds of SkyDrive, SCSK Corporation, Kansai Electric Power Company, Incorporated, Kintetsu Group Holdings, Incorporated, Suzuki Motor Corporation, Sompo Japan Insurance Inc. have participated. The total amount raised by SkyDrive so far is 14.7 billion yen.
SkyDrive will accelerate aircraft development, business promotion, and medium- to long-term growth as a manufacturer of "flying cars" and "logistics drones by strengthening its business and management base through raised capital. Tomohiro Fukuzawa, CEO of SkyDrive, said the following:
“Since the completion of Round B financing two years ago, the world has seen an acceleration of movement toward the full-scale realization of new mobility in the sky, mainly on air mobility and business drones, and we have also been promoting the full-scale launch of our cargo drone business and the development of our commercial aircraft ‘SD-05.’ We are very grateful for this opportunity to announce new funding and a capital alliance with those closely involved in our business. We have had various discussions with Kansai Electric Power Company, Kintetsu Group Holdings, Inc. and Resona Group toward the start of our business mainly in the Kansai area. We are collaborating with SCSK Corporation on software development, and with Suzuki Motor Corporation on mass production and potential sales in India and other parts of Asia. We are currently studying with Sompo Japan Insurance Inc. and Tokio Marine Holdings, Inc. on insurance to ensure safety and security, and Toyota Tsusho, Nippon Kayaku, and Nippon Shoken are cooperating with us in the development of mobility as a whole, with a focus on parts. In the area of finance, Sumitomo Mitsui Trust Bank, Limited and Bank of Mitsubishi UFJ, Ltd. are supporting us, and Pegasus Tech Ventures is helping us as a VC to connect Japan and the world. We are committed to creating a world where goods and people can move freely in the sky, first by supporting dangerous and difficult tasks with logistics drones, and then by launching air mobility services in 2025.”
SkyDrive’s company profile is here:
https://protocol.ooo/en/companies/skydrive