Doroni Aerospace has secured a $30 million strategic investment to accelerate the development, certification, and production of its H1-X eVTOL aircraft.
The funding, provided by Innovation Wings Industries (IWI), operating as Kingdom Aero Industries (KAI), will enable Doroni to push forward with its ambitious plan to launch the aircraft by the end of 2026.
The investment will directly support the continued refinement of the H1-X, funding critical phases such as advanced prototyping, flight testing, and regulatory certification. Additionally, it lays the groundwork for a major expansion, as Doroni partners with KAI to establish a joint venture for manufacturing the H1-X in Saudi Arabia starting in 2027. This collaboration will facilitate large-scale production and global distribution of the aircraft, significantly broadening Doroni’s market reach.
Doron Merdinger, Founder & CEO of Doroni Aerospace, said, “We are excited to welcome Kingdom Aero Industries as a strategic investor and manufacturing partner. This investment fuels and accelerates the H1-X development, while our joint venture will establish the production infrastructure necessary for global distribution. We are honored to have Ismail Kashkash, CEO of KAI, join Doroni’s Board of Directors. His leadership in aviation innovation will be instrumental to our success.”
Ismail Kashkash, CEO of KAI, added, “We believe Doroni is leading the future of personal eVTOL mobility, and the H1-X represents that future. This partnership aligns with our mission to bring transformative air mobility solutions to the world. We are proud to help drive Doroni’s vision forward and establish a world-class manufacturing hub in Saudi Arabia.”
Under the definitive agreement, KAI will co-own and finance the joint venture, with formalization expected in the coming months. The $30 million investment includes an initial $5 million injection at closing, anticipated within 30 days, while the remaining $25 million will be distributed based on key development milestones over the next two years. Upon full investment, KAI will hold a 40% stake in Doroni, subject to future capital raises.
Doroni’s H1-X eVTOL is poised to redefine personal air mobility with an emphasis on safety, efficiency, and accessibility. With FAA certification already in progress, this investment strengthens Doroni’s ability to scale production and meet the growing demand for advanced aerial transportation solutions on a global scale.
