Watch: Flying Car Startup To Disrupt Cargo Shipping?
US-based company LuftCar are targetting the cargo industry for major evolution via it's flying car that has just received US$100m worth of investment.
The hydrogen-powered electric vertical takeoff and landing (VTOL) vehicle offers shippers novel new ways to complete mass last-mile deliveries, as well as medium-length trips.
Private equity group GEM Global Yield is behind the funding of the two-seater prototype that was originally intended as a passenger vehicle, but has been remodeled as a cargo solution.
Take a deep dive into the innovative new solution via the video below:
Dubbed the 'flying forklift' because it has the ability to carry a vehicle beneath it, the prototype is making waves in the sector.
Santh Sathya, Founder and CEO of LuftCar, said: “With the prototype demonstration of LuftCar's innovative airframe design, which involves a LuftCar IP of five-point docking mechanism and a self-aligning catch tongue, we are confident that we will make a big market impact in air cargo, defense and regional transportation segments.
“The funds from GEM LLC will be used to scale up commercialization efforts and will be treated as series A investment.”