Madrid-based electric vertical take-off and landing (eVTOL) developer Crisalion Mobility has secured a new investment totalling €5.4 million ($5.9 million), including a contribution from the Spanish government.

Funding will come from the Innvierte programme run by Spain’s CTDI innovation body, backed by the ministry of science, and Cuyam, part of Grupo Valdemira.

INTEGRITY-c-Crisalion Mobility

Source: Crisalion Mobility

Five-passenger Integrity eVTOL aircraft is in development

Crisalion is developing a five-passenger eVTOL aircraft called Integrity but also has interests in advanced ground transportation systems.

“This investment agreement is a major step forward in Crisalion Mobility’s growth plan,” says chief executive Carlos Poveda, who praises the Spanish government’s “constant, invaluable backing for innovation”.

Meanwhile, Crisalion is working with investment bank BlueBull on a forthcoming Series B funding round seeking total investment of €25 million.