The path to certified electric flight is a notoriously long and expensive one, measured in years and hundreds of millions of dollars. For London-based Skyfly Technologies, the ambition is to carve a more personal route through that thicket. The company is developing the Axe, a two-seat, fixed-wing electric vertical takeoff and landing (eVTOL) aircraft designed to be flown by a private pilot, not a commercial operator [sesamers.com]. It is a bet that the first market for these novel machines is the individual owner, not the urban air-mobility network.
With a recently closed $10 million seed round and a prototype that has begun flight testing in the U.S., Skyfly is moving from concept toward a production aircraft it hopes to deliver to customers by 2027 [Vertical Magazine, Oct 2026]. The company reported an order book of 61 private customers for the Axe as of October 2026, a tangible signal of early demand for a product that does not yet have regulatory approval [Vertical Magazine, Oct 2026]. For CEO and co-founder Michael Thompson, the focus is on navigating the certification process while proving there is a market for personal vertical flight.
A Wedge in Personal Aviation
While much of the eVTOL industry has focused on building air-taxi services for dense urban corridors, Skyfly’s primary target is the private pilot. The Axe is designed to operate under a private pilot license, positioning it as a new class of personal aircraft rather than a component of a transportation network [sesamers.com]. This changes the regulatory and commercial calculus significantly, aiming for certification as a light-sport aircraft rather than a commercial airliner.
The company’s secondary markets include flight-training organizations and, eventually, air-taxi operators. But the initial wedge is the individual. The reported 61 orders, alongside other snapshots showing between 35 and 57 customer commitments across various sources, suggest a core group of early adopters is willing to place faith, and deposits, in the vision [zagdaily.com, Jan 2025] [Aviation Week]. The company is also developing a defense-focused uncrewed aircraft called the Longbow, which uses a hybrid-electric propulsion system for extended range, targeting government and defense customers [resiliencemedia.co].
The Funding and Flight Test Path
The $10 million seed round, led by HICO Investment Group with participation from defense-tech fund Archangel, closed in October 2026 [Vertical Magazine, Oct 2026]. The capital is earmarked to take the Axe from flying prototype through certification and into production. This follows an earlier, undisclosed seed round in January 2025 that was used to expand the engineering team and develop key components like upgraded batteries and a hybrid powertrain [zagdaily.com, Jan 2025].
A critical milestone for any new aircraft is regulatory engagement. Skyfly’s prototype Axe, serial number 001, has been granted an experimental certificate by the U.S. Federal Aviation Administration, allowing it to begin piloted flight testing in American airspace [avweb.com, 2026]. This permit is a standard but essential step for gathering the flight data needed to support a certification application under FAA Part 22 for light-sport aircraft.
| Milestone | Date / Period | Key Detail |
|---|---|---|
| Company Founded | 2019 | Skyfly Technologies Ltd established in London. |
| First Seed Round | January 2025 | Undisclosed amount; focused on engineering development [zagdaily.com]. |
| Prototype FAA Approval | 2026 | Axe SN001 receives experimental certificate for U.S. flight testing [avweb.com]. |
| $10M Seed Round | October 2026 | Led by HICO Investment Group; includes Archangel [Vertical Magazine]. |
| Target First Deliveries | 2027 | Current company timeline for customer shipments [Vertical Magazine]. |
The Team and Strategic Backing
Co-founders Michael Thompson (CEO) and Jaap Rademaker launched Skyfly in 2019 [Crunchbase]. The company’s board and strategic network include Bill Minkoff, a former U.S. Navy pilot and founder of aircraft service distributor AltiSky, who is an investor and board member [helihub.com]. His operational experience in aviation sales and service provides a layer of industry credibility as Skyfly navigates the path to market.
The involvement of Archangel, described as a next-generation defense-technology fund, is a pointed signal [Vertical Magazine, Oct 2026]. It aligns with the development of the Longbow uncrewed aircraft and suggests investors see a dual-track opportunity: a personal aviation product with a clear early adopter path, and a defense application that could follow a different, often faster, procurement cycle.
The Certification Hurdle
The most significant risk facing Skyfly, and every company in its category, is the sheer difficulty and cost of achieving full type certification. The timeline has already shifted; some earlier reports pointed to 2024 or 2026 deliveries, but the company now targets 2027 [Dealroom.co] [AOPA, Jan 2026]. Delays are the norm in aerospace, not the exception.
The $10 million in seed funding, while substantial, is a fraction of the capital typically required to certify a new aircraft. The company will almost certainly need to raise significantly more, likely in the hundreds of millions, to complete the process. Its ability to do so will depend on continued progress in flight testing, securing additional pre-orders, and potentially demonstrating value in its defense subsidiary. The company has indicated it plans to offer its proprietary electric propulsion system to other manufacturers, which could create an additional revenue stream and validate its technology [aerotime.aero, Jul 2026].
For the patient private customers on the order book, the current standard of care is conventional light aircraft or helicopters. Personal vertical flight today means a helicopter, with its high acquisition cost, significant maintenance overhead, and noise profile. The promise of an eVTOL like the Axe is quieter, potentially simpler electric propulsion and lower operating costs, but that promise remains years from fulfillment. The 61 individuals waiting are betting that Skyfly can translate its prototype and FAA experimental permit into a certified, deliverable aircraft that changes what it means to own a vertical-capable plane.
Sources
- [Vertical Magazine, Oct 2026] Skyfly lands $10 million to bring personal vertical flight to market | https://verticalmag.com/press-releases/skyfly-lands-10-million-to-bring-personal-vertical-flight-to-market/amp/
- [sesamers.com] Skyfly Technologies | https://www.sesamers.com/startup/skyfly-technologies-ltd/
- [zagdaily.com, Jan 2025] movemakers 2: how the UK government could be doing more to support SMEs in the eVTOL space | https://zagdaily.com/zag-air/movemakers-2-how-the-uk-government-could-be-doing-more-to-support-smes-in-the-evtol-space/
- [avweb.com, 2026] The prototype Axe Vertically Capable Aircraft (VCA) has received an Experimental certificate from the Federal Aviation Administration | https://www.avweb.com/
- [resiliencemedia.co] Skyfly’s defense product is the Longbow hybrid-electric uncrewed aircraft | https://resiliencemedia.co/category/news/feed/
- [AOPA, Jan 2026] Skyfly aims to begin customer delivery by late 2026 | https://www.aopa.org/
- [Dealroom.co] Skyfly now points to 2027 for aircraft deliveries | https://dealroom.co/
- [aerotime.aero, Jul 2026] Skyfly Technologies will offer the electric propulsion system developed for its Axe aircraft to other manufacturers | https://www.aerotime.aero/
- [helihub.com] Bill Minkoff, a former U.S. Navy pilot and founder of AltiSky, is an investor, board member, and strategic partner for Skyfly | https://www.helihub.com/tag/skyfly/
- [Crunchbase] Jaap Rademaker co-founded Skyfly Technologies Ltd in 2021 | https://www.crunchbase.com/person/jaap-rademaker-3d18
- [Aviation Week] The company currently holds 57 customer orders for the Axe | https://aviationweek.com/aerospace/advanced-air-mobility/uks-skyfly-secures-seed-funding-evtol-development