The US eVTOL industry thrives as the FAA approves new aircraft regulations, the first in 40 years. Archer Aviation plans commercial operations by 2026 and expands into military applications with Anduril. Meanwhile, Europe struggles, with Lilium facing insolvency after failed government support talks, highlighting the need for stronger industry backing.
Despite these struggles, notable players in this space, including Volocopter, Wingcopter, and Joby Aviation, each working on innovative designs and technologies to revolutionise how we navigate our cities, have raised investments. Now, the Czech developer of hybrid VTOL aircraft Zuri has raised a further €3 million investment in its recently concluded pre-Series A funding round, bringing the fundraising to €4.4 million.
Who invested in Zuri?
The oversubscribed round was led by Jan Barta, general partner of Pale Fire Capital (PFC), a leading PE firm with a diverse portfolio spanning technology, energy, and global markets. PFC was Zuri’s very first investor back in 2018 and this follow-up investment underscores the long-term trust in and support for the company’s vision of advancing hybrid aviation.
In addition to Barta’s investment, this round included contributions from notable angel investors, such as Boris Renski (US, founder of FreedomFi and co-founder of Mirantis), Matej Turek’s 10X fund, and a group of investors from Europe and the US, further validating Zuri’s global appeal and market potential.
Funds utilisation
With the new funding, Zuri is expanding its team to accelerate progress toward delivering hybrid VTOL solutions. The company is hiring across multiple disciplines, including aerospace design, project management, electrical engineering, and software development. The goal is to attract top-tier talent from Europe and beyond to help bring Zuri’s transformative vision for the future of regional air mobility to life.
Next-gen technology demonstrator
Zuri started as a visual sketch in 2017. It was first drawn by the company founder, Michal Illich, with some crayons borrowed from his kids. Later, it was redrawn by a professional aerospace designer to its current form.
It aims to transform Advanced Regional Air Mobility with hybrid VTOL aircraft powered by Sustainable Aviation Fuelv(SAF). By combining vertical takeoff and landing capabilities with efficient wing-borne flight, the company aims to offer a sustainable, high-performance solution for point-to-point, mid-range air travel.
Building on the success of its first-generation, 11-meter demonstrator, which has already completed flight testing, TD 2.0 evolves Zuri’s tech in three critical areas:
- Hybrid Powertrain: By Integrating a hybrid propulsion system, Zuri combines electric and internal combustion technologies to deliver extended range, operational flexibility, and reduced environmental impact.
- Full Flight Mode Capability: Its large-scale demonstrator will operate in all flight modes — VTOL, transition, and cruise, thanks to the incorporation of tiltrotors. Zuri has successfully tested these modes in multiple subscale models.
- Improved design: The new Zuri 2.0 aircraft design, introduces advanced tiltrotors and a re-engineered tail section, significantly improving aerodynamic efficiency, stability, and overall performance.
“This remarkable level of support from our investors reinforces Zuri’s mission and momentum,” said Michal Illich, founder of Zuri. “With the funds raised, we can now confidently accelerate the next stage of our development — building our next-generation technology demonstrator, TD 2.0.”
“I have been watching Michal’s level of persistence for the last several years,” said Jan Barta, general partner of Pale Fire Capital (PFC). “Advancing a large VTOL project and being capital constrained the whole time was an immense challenge and Michal never gave up. Those are true qualities of real founders. This funding will now allow Zuri to scale up quickly and one can say, actually in the literal sense, the sky is truly the limit here.”