CycloTech, an Austrian aviation technology innovator, has announced a significant €20 million investment from Breeze Invest and Konos Holding. This funding marks a crucial step in the development of the first full-scale prototype of the CycloRotor propulsion system, with an overall financing target of €53 million set for 2024.
Since its inception in 2016, CycloTech has developed six generations of CycloRotors, with the current version undergoing flight test operations since 2021. The investment will fuel further development towards a market-ready CycloRotor propulsion system, envisioned for diverse applications including logistics, construction as a flying crane, and precision drones for the defense industry.
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Aiming for Commercial Launch and EASA Certification
CycloTech CEO Hans-Georg Kinsky highlighted the financing’s significance for launching commercial activities and starting revenue generation. The company is in discussions with other potential investors to meet its €53 million funding goal for the year, which will prepare the CycloRotor for certification by the European Aviation Safety Agency (EASA), laying the groundwork for a marketable product by 2030.
Revolutionizing Urban Air Mobility
Maximilian Schönfeldt, Managing Director of Breeze Invest, expressed strong confidence in CycloTech’s potential to transform urban air mobility. CycloTech’s electrically driven CycloRotors offer 360° thrust vector control, a fundamental departure from conventional propulsion systems, enabling fully circular thrust force and direction variation.
Pioneering in eVTOL Aviation and Automotive Industries
Markus Steinke, Chief Development Officer at CycloTech, sees the technology opening new mass markets in sustainable aviation and potentially revolutionizing the concept of flying cars. CycloRotors promise smaller, more maneuverable, and comfortable eVTOL aircraft that can seamlessly transition from vertical to horizontal flight without changing attitude or activating additional propulsion systems.
With this new funding, the tech company is poised to develop its CycloRotor technology to meet safety and performance standards, taking a leading role in the future of air mobility.
