When it comes to electric vertical take-off and landing (eVTOL) vehicles, Shanghai Volant Aerotech Co. Ltd. certainly looks like a company that’s quite well fueled up in terms of industry prowess, investor backing and its path to a Hong Kong IPO. The company has just completed its C+ series funding, raising a fresh sum of nearly 1 billion yuan ($148 million), just a month after raising $300 million in its series C round, according to media reports.
Despite its short history, only founded in 2021, Volant also has a big list of backers, both private and government-linked, which we’ll review shortly. Its founding team reads like a who’s-who of people from the Chinese and foreign aviation sectors. And last but perhaps most important, it appears to have a product that is rapidly moving towards flight certification, as well as a strong order book from companies that have expressed interest in its products.
All this seems to point to an IPO in the not-to-distant future, and Chinese media have reported Volant has set its sights set on Hong Kong, citing insider sources. Such a listing looks likely to value Volant at more than $1 billion, given that it has raised 5 billion yuan to date, equal to about $740 million.