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SkyDrive raises 9.6 billion Yen in Series C Funding to accelerate development of flying cars and cargo drones

SkyDrive, a Japan based developer of “flying cars” and cargo drones, announced today that it raised a total of 9.6 billion yen in the Series C round of financing through a third-party allotment of new shares and bank loans to 13 companies including MUFG Bank, Ltd. The company says this has brought its cumulative total raised to approximately 14.7 billion yen.

In a statement on its website the company says “With the mission of “taking the lead in the once-in-a-century mobility revolution,” the Company is developing flying cars, and cargo drones that are capable of transporting objects weighing 30 kg in order to realise a future that utilises the sky for everyday transportation.

“By strengthening our business and management base through this financing, we will accelerate vehicle development, business promotion, and medium- to long-term growth as a manufacturer of flying cars and cargo drones.”

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(Image: SkyDrive)

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