ZeroG (零重力飞机工业), an eVTOL startup based in Hefei, provincial capital of eastern China’s Anhui, has completed an angel round of financing just shy of 100 million yuan (US$13.94 million).
This round was led by Lenovo Capital and QF Capital, with participation from HF Capital.
Proceeds from this round will be used to develop and test ZeroG’s six-seat flagship prototype ZG-T6, as well as to shore up production and airworthiness approval of other models.
Founded in March 2021, ZeroG is one of the first domestic companies to dedicate itself to the design and manufacturing of eVTOL aircraft.
From the very outset the company has taken upon itself a mission to construct what it calls a “third public transportation ecosystem” — which it falls short of explaining.
The first-generation, second-generation and third-generation airframes of ZeroG. Photos courtesy of ZeroG
ZeroG claims to be the only domestic eVTOL startup to diversify into three major design architectures, including multi-copter, lift-and-cruise and tilt-rotor.
Currently, it has come up with five eVTOL models, which are ZG-One, ZG-VC2, ZG-T6, ZG-D1 and Delta I.
A large number of eVTOL firms have sprung up in recent years with the vision to provide “air taxi” rides in the not-too-distant future.
Amid a steady inflow of capital and relaxing of regulations, they look to disrupt the domestic urban mobility landscape, currently dominated by land transportation.