The idea of flying cars continues to attract venture capital investors around the world. In Japan, Tokyo-based flying car developer Skydrive has secured US$14 million in fresh funding that will be used to speed up the development of its products and conduct a test flight within this year.
The fresh capital infusion brings SkyDrive’s total funding to US$18.5 million since its inception in 2018. The funding round was backed by Yahoo Japan’s investment arm Z Corporation, Energy & Environment Investment, Itochu Technology Ventures, Strive, and Drone Fund.
As a result of the investment, Strive General Partner Tatso Tsutsumi will join SkyDrive’s board as an outside director, according to a statement.