(SLOVAKIA)

A groundbreaking startup designing flying cars has received financial backing to support its expansion plans in Asia.

Slovakia’s AeroMobil has attracted investment from InfraPartners Management (IPM) to advance its flying car technologies, which it plans to make available to the consumer market by 2020.

Juraj Vaculik, CEO and Co-Founder, AeroMobil, said: “We are delighted to have received not just this significant investment, but further validation from a prominent fund and advisory company. Now that we have launched the next generation of the AeroMobil flying car we are 100% focused on getting the vehicle ready for testing this year and delivery to our first customers by 2020. We are confident the engineering and technology approach we have taken will ensure this vehicle will meet growing demand for personal air transport.”

With growing urbanisation, AeroMobil plans to pioneer ‘personal air transport’ solutions to ease the escalating congestion issues.

Adrian Vycital, Managing partner at IPM, added: “We were convinced the company’s leadership team is very focused on delivering a real solution to the problems of over-congestion and struggling infrastructure based on a sound grasp of the engineering and regulatory requirements for flying cars.”