Swiss helicopter developer Kopter is seeking to raise Swfr150 million from private investors to carry the single-engined SH09 design through certification and into production in the second half of next year, the company says.

The new round of financing would add to the Swfr270 million spent on the development project since the company — originally branded as Marenco Swisshelicopter — was founded in 2007.

The company’s financing so far has come from a single source: a Russian family foundation led by Alexander Mamut.

The Mamut foundation’s single shareholder status will change if Kopter’s latest financing round is successful, but will still keep a majority stake in the company, says Kopter chief executive Andreas Löwenstein.

Kopter needs more cash to push the SH09 through what is expected to be the final series of certification testing starting later this year.

Of the three SH09s that have entered flight testing so far, none are considered production-representative aircraft. The fourth SH09 — dubbed production series (PS)-4 — is scheduled to begin flying in the summer.

The entrance of PS-4 into flight testing will allow Kopter to complete airworthiness testing with the European Aviation Safety Agency in the first quarter of 2019.