Advanced Air Mobility Modern Flying News

XTI Lands Up to $55M to Develop VTOL Business Aircraft

The investment gives the company a post-sale valuation of about $275M as it works to develop its flagship TriFan 600.

Monday, July 01, 2024 at 03:54 PM ET

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A digital rendering depicts XTI Aerospace’s flagship TriFan 600 sitting on a helipad within a city. [Courtesy: XTI Aerospace]

Key Takeaways:

XTI Aerospace has secured up to $55 million in new funding from FC Imperial Limited to accelerate the development of its TriFan 600 vertical lift crossover airplane (VLCA).
The TriFan 600 is a fixed-wing VTOL business aircraft designed for high speed (345 mph), long range (700 sm VTOL), and affordability, utilizing tilting ducted fans.
The company has garnered significant market interest, including over 700 conditional purchase agreements and a recent conditional preorder for up to 100 aircraft from Mesa Airlines.

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XTI Aerospace, the developer of a fixed wing, vertical takeoff and landing (VTOL) business aircraft that it bills as a new category of vehicle—the vertical lift crossover airplane (VLCA)—has secured fresh funding to develop its flagship TriFan 600.

XTI on Monday announced it signed a capital distribution agreement with investor FC Imperial Limited worth as much as $55 million, giving the firm a post-money valuation of around $275 million should the transaction go through.

Jack Daleo

Jack is a staff writer covering advanced air mobility, including everything from drones to unmanned aircraft systems to space travel—and a whole lot more. He spent close to two years reporting on drone delivery for FreightWaves, covering the biggest news and developments in the space and connecting with industry executives and experts. Jack is also a basketball aficionado, a frequent traveler and a lover of all things logistics.