Fresh from losing out on Lilium’s assets to Archer Aviation, Dutch firm Ambitious Air Mobility Group (AAMG) has turned its attentions elsewhere and agreed to invest an undisclosed sum in Czech hybrid air taxi developer Zuri.
AAMG will become “a long-term industrial and financial partner” to Zuri and will additionally place orders for the firm’s hybrid-electric vertical take-off and landing (VTOL) aircraft, including in uncrewed and optionally piloted configurations, for logistics, cargo and defence operations.
Zuri says the two parties hope to have the final deal signed by 16 December, with the exact amount to be invested to be disclosed in January. It declines to say what stake in the business AAMG will receive in return for the funding, however.
Securing AAMG’s backing closes Zuri’s Series A funding round, with a Series B effort to kick-off in mid-2027.
An “oversubscribed”, pre-Series A round in 2024 brought in some €4.4 million ($5.1 million) against an initial €1.5 million target.
No details of the number of aircraft to be ordered by AAMG or a delivery timeline have so far been disclosed.
While such a commercial agreement would see AAMG become both a customer and investor, Zuri sees no problem with this position.
“I actually think it is great, they are doubly motivated for the aircraft to be aligned with their goals and to succeed,” says chief executive Michal Illich.
Zuri has yet to commit to a timeframe for service entry of its four-passenger aircraft, which uses eight tilting propellers – four on the wing and four on the V-tail – for lift and propulsion.
It is presently designing a second scaled demonstrator of the VTOL aircraft; wing manufacture is already underway and is scheduled to complete in December, says Illich. An unmanned first flight is targeted for the final quarter of 2026 following ground tests in the summer.
Illich says the main goal of the 70%-scale aircraft is to demonstrate a full transition to forward flight.
Zuri argues that rather than being constrained by the short ranges promised by even the best battery technology, its hybrid-electric powertrain will allow it to fly routes of up to 380nm (700km) including a 30min reserve.
“This partnership marks a clear step toward delivering transformative long-range regional capabilities through hybrid-electric aviation,” says Robert Kamp, chief executive and senior partner in AAMG.
“They have a compelling vision that maximises the impact of our vertiport network and regional air mobility.”
Praising the deal in a LinkedIn post, AAMG says the ”investment and purchase orders accelerate Zuri’s next development milestones and secure its European manufacturing base.” The company has ”delivered the best [return on investment] for capital invested to date that we have seen across the sector”, it adds.
Having previously been a customer for the Lilium Jet, AAMG emerged in August as a surprise bidder for the collapsed eVTOL developer’s assets.
At the time, it said it was backed by €250 million in “committed capital”, with access to a further €500 million, to revive development of the Lilium Jet.
However, AAMG was unable to reach an agreement on the sale with Lilium’s insolvency administrator Ivo-Meinert Willrodt. Nonetheless, its website still features plentiful references to the Lilium Jet.
And despite its public pronouncements, little is known about AAMG or its backers.
