London-based startup Skyports, which builds takeoff and landing sites for flying taxis, has closed its Series B funding round with a $3.13m (£2.56m) investment from ST Engineering’s venture capital arm, ST Engineering Ventures.
ST Engineering is the final investor in the funding round and brings the total capital raised to $26.13m (£21.4m), Skyports announced today. The first Series B round in March raised $23m (£18.8m).
Skyports builds landing pad infrastructure – known as vertiports – for electric vehicle take-off and landing (eVTOL) vehicles. It also has a drone services division.
Skyports said in April it expects to start operating its first eVTOL terminal in Singapore in 2024.
ST Engineering started working with Skyports last year on reservoir monitoring, drone inspection, and ship-to-land deliveries projects in Singapore.
Duncan Walker, CEO, Skyports, said: “The Asian market is a critical area of growth for AAM [advanced air mobility], and one we are committed to cultivating.
“Investment from Kanematsu Corporation, and now ST Engineering, demonstrates that our confidence in and focus on this market is well-founded and supported by industry leaders from across the region.”
Soo Soon Teong, VP and head of unmanned air systems, ST Engineering said: “Our investment in Skyports stems from our confidence in the future of Advanced Air Mobility, and the expertise that Skyports has and continues to grow in building towards that future.”
Skyport’s Series B also attracted investment from the likes of Japanese conglomerate Kanematsu Corporation, property group Goodman Group, and Italian airport platform 2i Aeroporti.
Earlier this month, the UK government’s Future Flight Challenge granted £9.5m to a consortium including Skyports that aims to advance the testing and use of eVTOL flight services.
Image credit: Skyports
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