Recently, Wofei Changkong has completed the B round of financing of hundreds of millions of yuan, setting a record for the largest single financing in the domestic low-altitude economy eVTOL industry in the past two years.
This round of financing was mainly invested by Ceyuan Capital, and pursued by Huakong Fund, Zhongke Chuangxing, Soaring Tianxing, Quanzhou Hairui, etc. The financing funds will be mainly used for the R&D and commercialization of its fully self-developed product AE200, accelerating the implementation of urban air mobility and promoting the high-quality development of China's low-altitude economy.
As a leading eVTOL R&D company in China, Wofei Changkong is a company under Geely Technology Group dedicated to the R&D and commercial operation of global low-altitude intelligent transportation aircraft, and is currently the only low-altitude travel enterprise in China that has both the ability to develop eVTOL products with fully independent intellectual property rights and the ability to operate eVTOL products at the top of the world.
Since its establishment, Wofei Changkong has won the favor of a lot of capital, and has completed 3 rounds of market-oriented financing.
The first round of financing was led by Huakong Fund, a leading private equity investment institution in China, with a total amount of more than 100 million yuan. Huakong Fund has accumulated 16 years of investment experience in the field of advanced manufacturing and high-end equipment, creating a complete and functional development pattern of the aerospace industry chain.
As the founder of the concept of "hard technology" and the pioneer of "hard technology" investment, Zhongke Chuangxing insists on investing in optoelectronic chips, artificial intelligence, aerospace and other fields, and has made many advanced layouts in the field of cutting-edge science and technology.
Following the completion of the first two rounds of financing last year, in the short term, Wofei Changkong once again won hundreds of millions of yuan in Series B financing——
At the same time, it is also the largest single financing event in the domestic low-altitude economy eVTOL industry in the past two years, which fully demonstrates the recognition of capital and the market for the strength of Wofei long-altitude and the optimism of future development.
As the vane of the investment community, Ceyuan Capital's attention to Wofei Changkong not only stems from the optimism about the huge development potential and market prospects of the low-altitude economy, but also reflects the favor of the capital market for enterprises like Wofei with technological innovation capabilities, product research and development, and stable business models.
It is worth mentioning that shortly after the completion of the B round of financing, Wofei Changkong also made significant progress in product research and development——
Its fully self-developed strategic product AE200 electric vertical take-off and landing aircraft (eVTOL) demonstrator successfully completed all flight test subjects of full size, full weight, full envelope tilt transition, etc., becoming the first eVTOL enterprise in China and the second in the world to complete such test subjects. At the same time, the airworthiness certification has also taken the lead in entering the stage of conformity plan formulation and approval, and the R&D process and airworthiness certification process are in the leading position in the industry.
At present, the low-altitude economy is accelerating its "take-off" and has become an important representative of the new quality of productive forces, and is one of the new engines driving the economic development of the mainland.
As a low-altitude economic "chain master" enterprise, Wofei Changkong has always adhered to a precise and firm development strategy in the face of the outbreak of the market, and has carried out in-depth cooperation with many leading companies in the industry in many fields.
Among them, the order for 100 AE200s signed with Hualong Airlines, the largest business jet operator in the Asia-Pacific region, is the first innovative alliance between eVTOL and business aviation, opening the era of eVTOL flight in business aviation. The cooperation with CITIC Haizhi, the largest general aviation company in China, is the first strategic cooperation between the leading eVTOL company in China and the largest general aviation company in China. It has reached cooperation with Gansu Aviation Investment, one of the comprehensive general aviation enterprises with the most complete business formats and the strongest operational capacity in Northwest China, to jointly build a national model of electric aviation cultural tourism operation.
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About investments
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Ceyuan Capital
Ceyuan Capital is an important force in the field of domestic capital investment, with a management scale of more than 20 billion yuan, participated in the establishment of an industrial fund group with a total scale of more than 140 billion yuan, and has established cooperative relations with more than 100 institutions, including well-known leading institutions such as Hillhouse Investment, Shenzhen Venture Capital, and Oriental Fuhai, as well as excellent industrial capital such as Huawei Hubble and Innocore Dynamics, as well as representative institutions in many subdivided fields. Guided by the solid promotion of industrial circle building and strengthening the chain, Ceyuan Capital focuses on the three leading industries of electronic information, biomedicine and digital economy, focusing on hard-core technology, advanced manufacturing, aviation and other fields.
In the future, Ceyuan Capital will fully support the rapid layout and development of China's future industries and low-altitude economic industries, actively help the R&D and production of Wofei Changkong's self-developed eVTOL products, jointly build low-altitude economic industrial clusters, expand low-altitude economic application scenarios, and help the mainland's low-altitude economy fly to a "new highland".
China Holding Fund
As a representative of the new quality productive forces, the low-altitude economy is an important part of stimulating the mainland's economic development. eVTOL is one of the core vehicles of the low-altitude economy, and will play a vital role in low-altitude travel, tourism, emergency rescue and other fields. Since the first investment of Huakong Fund, Wofei Changkong has maintained rapid development, and is in a leading position in the industry in terms of product maturity, airworthiness progress, and business cooperation. The low-altitude economy is a track of "long slopes and thick snow", and it is an area that requires multi-party cohesion to jointly promote growth, and Huakong also believes that the participation of Ceyuan Capital will provide more resources for Wofei. As an old shareholder, Huakong will continue to support the development of Wofei and jointly help the mainland's low-altitude economy from "take-off" to "take-off".
Geely Technology Group
This round of investors has formed a good strategic synergy with Wofei, which fully demonstrates Geely's deep accumulation and development strength in the field of low-altitude travel. In the future, Geely Technology will continue to provide strong support for Wofei Changkong, and will embrace more partners with an open mind, complement each other's advantages, and work together to help the rapid development of the low-altitude travel industry.
Wo Fei Sky
The acquisition of the investment fund from Ceyuan Capital not only demonstrates the increasing financing ability of Wofei Changkong, but also provides strong support for the company. In the future, we will continue to accelerate the process of product development and airworthiness, give full play to the traction role of the "chain master" enterprise of the low-altitude economy, combine with upstream and downstream high-quality enterprises, form the advantages of industrial clusters, lay out the moat in advance, and further enhance the company's competitiveness in the global market.
The successful completion of this financing is not only an important milestone for the development of Wofei Changkong enterprise, but also reflects the firm confidence of industry capital and industry in the low-altitude economic track, and injects strong momentum into domestic eVTOL R&D enterprises. In the future, Wofei will continue to accelerate the R&D, airworthiness and commercialization of self-developed eVTOL products, further improve the ecological layout of the industrial chain, and help the mainland's low-altitude economy to "fly" to a new economic growth pole.
AEROFUGIA is a practitioner of Geely Technology Group's general aviation strategy and a provider of overall solutions for the cross-border ecology of new general aviation.
Founded in September 2020, the company is a technology company with unmanned aerial vehicles, Internet of Things platforms and innovative services as its core, a practitioner of Geely Technology Group's new general aviation strategy, and a provider of overall cross-border ecological solutions for new general aviation.
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The mission of Wofei Changkong is to enlighten all things with science and technology, make the world convenient and worry-free, make information and entities seamlessly transmitted, and let everyone in the world enjoy the beauty brought by technology. Focusing on our business innovation, we have formed a new general aviation intelligent platform serving geographic information, security inspection, air travel, logistics and distribution, consumer life and special applications.