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Spain’s Crisalion Mobility granted EUR5.4 million from government innovation investor

Crisalion Mobility, a Spanish eVTOL developer, has been selected by CDTI Innovación (Centre for Technology Development and Innovation), under its Innvierte programme, and by Cuyam (Grupo Valdemira) to receive a total investment of EUR5.4 million.

CDTI Innovación is a Spanish public organisation which falls under Spain’s Ministry of Science, Innovation and Universities and supports innovative projects.

“This investment agreement is a major step forward in Crisalion Mobility’s growth plan,” said Carlos Poveda, CEO of Crisalion Mobility. “The company continues to deliver on its roadmap, offering an unrivalled approach to air and ground mobility through strategic technologies that will be crucial to the development of the vehicles of the future.”

The company has developed its  patented technology, FlyFree, “which maximises aircraft stability and safety and has been tested successfully on European test flights,” says the company. “By 2030, there will be electric aircraft operating in urban and regional airspace, and autonomous ground mobility experiences, controlled remotely from a control centre, are already a reality. Crisalion Mobility develops competitive solutions in both of these areas: the first Spanish eVTOL and one of the first in Europe to successfully complete test flights and the first prototype for a remote control centre for ground vehicles in Spain, which will be tested soon in real-world private environments.”

The CDTI, through its Innvierte Economía Sostenible initiative, supports and facilitates financing for technology companies, and CDTI Innovación aids the global expansion of R&D and innovation projects by Spanish companies and organisations. It also manages the participation of Spanish companies in global organisations such as Horizon Europe and Eureka, and in the science and space industry.

BlueBull, an investment bank specialising in high-growth technology companies, is acting as exclusive financial advisor to Crisalion Mobility. The two are already working together on an upcoming EUR25 million Series B round.

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