We are delighted to announce that we are poised to go racing following the successful completion of a seed investment round. This progress represents significant steps forward in our aim to accelerate the development of electric flying cars through sporting competition.

A technical facility has been established in Adelaide, South Australia. The region is rapidly taking its place as a global centre of space and aerospace technology with its surrounding deserts the perfect place to test both manned and unmanned flights.

Our vision has been affirmed by significant institutional backing. The firm has secured funding from two of Australia's leading technology Venture Capital firms, Saltwater Capital and Jelix Ventures. The investment into the future of mobility backs a pioneer in eVTOL (Electrical Vertical Take Off and Landing), which is a sector that is predicted to be worth $1.5 trillion by 2035.

"Airspeeder's founder, Matt Pearson has an inspired vision of the future of "clean air" mobility. We are impressed with the early success of his route to early commercialisation through the creation of a flying car racing league. There is a clear global market for Airspeeder and Alauda and the founder has an outstanding track record as a successful entrepreneur. We are proud to support the realisation of his bold vision of the future of mobility." Andrea Gardiner, Co-Founder, Jelix Ventures

Saltwater Ventures is a specialist global technology fund founded by successful entrepreneur Len Findlay. He has spent two decades founding, guiding, funding and growing technology companies across Europe, Australia, Asia and the Middle East. Saltwater backs high-growth, high-potential companies that challenge industry conventions with vision to develop new markets through innovative solutions.

"We are inspired by Matt Pearson's vision to drive innovation in a sector that promises to change mobility. Electric flying car racing will drive awareness of a technology that will bring our communities together and answer the question of sustainable urban transport in the coming decades. We are proud to be a part of bringing the bold promise of electric flying car racing to life."

Testing and development

We are currently at a stage of advanced testing. Its MK2 electric flying multicopters successfully completed trials throughout 2019. A team of test pilots recruited from the US Air Force and Martin Aviation will test the MK3 advanced development prototype in the deserts surrounding the firm's South Australian Technical base. These will take place once restrictions relating to the current global health crisis are lifted.

The MK4, first shown as a concept in the summer of 2019 will be co-developed in the UK and South Australia, with the latter proving the perfect testing ground for both ground control and manned flights as the sport nears its inaugural 'Beta Season'. This will included public manned test flights that will demonstrate Airspeeder's potential to be the most exciting sport on the planet. The firm is poised to deliver this flight but exact timings will be dependent on the lifting of restrictions related to the current global health crisis.