Vinata Aeromobility, a startup that develops full autonomous flying car, announced it has plans to raise funding of USD 1 Million for the Initial Product development phase & USD 10 Million in the next three years to bring to fruition the company’s vision to revolutionize urban transportation.
With flying car ventures around the world attracting the attention of big names like GM and United Airlines, Vinata Aeromobility also intends to fill the gaps when it comes to sustainability, user convenience, and hassle-free mobility system, the statement said.
By 2030, an estimation of 60% of the world’s population will be living in urban areas,and roads need to make space for over 1.6 billion vehicles. This, of course, will raise demand for a sustainable solution to transportations and this is where Vinata Aeromobility will put forward its services and introduce flying cars.
The company intends to use its initial funds for product development and on setting up a global R&D Centre and also plan to procure initial developmental components.
A new era of urban air mobility and their concept-driven flying cars are shaped with innovative design and outstanding performance. Vinata Aeromobility has given prime importance to safety in designing and manufacturing its futuristic urban air mobility.
With Future investment plans,Vinata is all set to launch its market strategy by 2025.
With over 15 years of experience in new product development and manufacturing, Founder and CEO Yogesh Ramanathan (Yohg CAS Iyer) channeled his love for cars and flights into this venture. The founder, with his track record on entrepreneurship, is going to utilize the funds on procuring various components including generators, R&D Development activities, and moulding the infrastructure. The funds would be used from USD 1Million to USD 10 Million in three years, to set up the assembly plant and various other manufacturing unit.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.