Asia-Pacific AAM Report 1H 2023
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OEM OVERVIEW<br />
MILESTONES<br />
Jun<br />
Founded<br />
Aug<br />
VE25: Launched the full-scale<br />
demonstrator X1<br />
Nov<br />
VE25: Debuted the X1<br />
Mar<br />
VE25: X1 completed takeoff<br />
and landing hover test<br />
2021 2022 <strong>2023</strong><br />
VE25: First flight of the 1/3<br />
subscale demonstrator Tiny<br />
Sep<br />
VE25: X1 completed strength testing<br />
Oct<br />
VE25: X1 completed its first tethered test flight<br />
Jan<br />
CERTIFICATION PROGRESS<br />
DATE AGENCY STAGE<br />
Jan 2022 Civil Aviation Administration of China<br />
Volant and the CAAC East Regional Administration signed a Partnership of<br />
Safety Plan (PSP)<br />
FUNDING<br />
DATE ROUND AMOUNT INVESTORS<br />
Sep, 2021 Seed Funding Unspecified Shunwei Capital, Ventech China<br />
Jun, 2022 Pre-A Round Unspecified 1 Future Capital, Qingsong Fund, Welight Capital, Shunwei Capital<br />
Note: 1. Volant stated the Pre-A round of funding is around 100 million Chinese Yuan.<br />
ORDERS<br />
DATE COMPANY COUNTRY/SUBREGION TYPE VE25<br />
Feb 2022 Ruohang Industrial Technology Mainland China Intent orders 50<br />
Mar 2022 Huaxia Feidi Technology Mainland China Conditional orders 200<br />
Mar 2022 Others (confidential clients) Unspecified Conditional orders 180<br />
40 | <strong>1H</strong> <strong>2023</strong> ASIA-PACIFIC <strong>AAM</strong> REPORT
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