New Horizon Aircraft Ltd., doing business as Horizon Aircraft, a leading hybrid eVTOL aircraft developer, has received an investment from a strategic investor and aerospace supporter, for aggregate proceeds of $8.4 million.
The strategic financing will fortify Horizon Aircraft’s balance sheet, provide stability in the operations, governance and regulatory priorities, and fund further development and flight testing of its hybrid eVTOL, the Cavorite X7.
Brandon Robinson, Chief Executive Officer and Co-Founder of Horizon Aircraft, commented, “We are deeply appreciative for this second investment from our strategic partner. The principle’s continued support through this second tranche of funding provides our business with a solid working capital position in support of our initiatives. With this commitment Horizon Aircraft is on solid footing, and our focus is on the development of our full-scale hybrid eVTOL.”
