HorizonX Ventures' investment team focuses on identifying startups developing revolutionary concepts around the world. Bringing together a diverse background of Boeing knowledge and larger market experience, the team provides funding to chosen startups, connecting them with global network of Boeing resources to get their ideas off the ground. The firm was founded in 2017 and is comprised of a global team based in Chicago, Menlo Park, Los Angeles, Seattle, St. Louis, Washington DC, and Israel.

Boeing HorizonX Ventures

Near Earth Autonomy

Near Earth Autonomy is creating a future where autonomous flight is commonplace and safe. Their work enables a range of unmanned aircraft (i.e., sub-meter to full scale) to operate across multiple applications.

<div>Headquartered in Pennsylvania, Near Earth bridges the gap between aerospace and robotics fields by providing comprehensive systems that enhance the efficiency, performance, and safety across a wide spectrum of aircraft, spanning from compact drones to full-scale helicopters. Near Earth's cutting-edge technology empowers aircraft to autonomously execute safe takeoffs, flights, and landings, regardless of GPS availability. Its innovative solutions unlock the potential of aerial mobility for partners in both commercial and defense sectors. Its technology is customizable, scalable, and includes sensors, computing, software, and user experience (UX).&nbsp;&nbsp;</div>

Clean, congestion-free air travel gets liftoff

Passenger eVTOL Aircraft

Honeywell partners with Near Earth Autonomy and Leonardo to enable autonomous flight

Honeywell

To enhance autonomous rotorcraft technology for logistics and casualty evacuation, focusing on retrofitting existing platforms for rapid deployment and operational efficiency by 2030.

<div>
 
 Headquartered in Pennsylvania, Near Earth bridges the gap between aerospace and robotics fields by providing comprehensive systems that enhance the efficiency, performance, and safety across a wide spectrum of aircraft, spanning from compact drones to full-scale helicopters. Near Earth's cutting-edge technology empowers aircraft to autonomously execute safe takeoffs, flights, and landings, regardless of GPS availability. Its innovative solutions unlock the potential of aerial mobility for partners in both commercial and defense sectors. Its technology is customizable, scalable, and includes sensors, computing, software, and user experience (UX).&nbsp;&nbsp;
 
 
 Key customers and partnerships
 
 
 In 
 <a href="https://www.volocopter.com/newsroom/volocopter-and-near-earth-autonomy-partner-on-autonomous-flight-capabilities-for-the-volodrone/">
 2021
 </a>
 , the company partnered with Volocopter to test Near Earth Autonomy&rsquo;s autonomous flight technology on Volocopter&rsquo;s eVTOL VoloDrone aircraft.
 
 
 Funding and financials
 
 
 In 
 <a href="https://drive.google.com/file/d/1LuxYsHZ95KYCmNDBFkgQ7dlbNSuHXF3a/view">
 June 2022
 </a>
 , Kaman Corporation (NYSE: KAMN) invested USD 10 million in Near Earth Autonomy in exchange for a minority interest in the outstanding equity of the company and one seat on its board of directors. The investment was aimed at accelerating Near Earth&rsquo;s technology to establish an industry-standard in autonomous solutions for the next generation of aviation.
 
 
 
 
 
</div>

Lift Aircraft, headquartered in Texas, is a pioneering startup that focuses on the development and manufacturing of autonomous eVTOLs. Its primary goal is to provide short recreational flights, making flying accessible to everyone. The company claims to be the developer of the world's first personal eVTOL aircraft to enter production (in 2019) and launcher of the world’s first experiential entertainment business based on an entirely new type of personal, eVTOL aircraft.The company has obtained approval for its flagship vehicle, HEXA, to operate in accordance with the FAA's Part 103 rules. Notably, individuals can fly HEXA for personal, non-commercial purposes without a pilot's license, enabling individuals to experience flying without the usual regulatory and training requirements. As of May 2022, the company had no intention of offering HEXAs for sale to the general public, and it was only offering electric multi-rotor flying as an experience. LIFT had plans to expand its presence across the US, with the initial rollout scheduled for 2023. To facilitate this expansion, as of May 2023, the company was accepting advance flight reservations in 25 cities. LIFT intended to prioritize the opening of locations based on the reservation totals, starting with the cities that demonstrate the highest demand. The cost of each flight is estimated to be around USD 249 for an 8–15 minute duration, a pricing point that is comparable to other thrilling activities such as helicopter tours, skydiving, hang gliding, and scuba diving. As a limited-time promotion, individuals who have made advance reservations would enjoy a 40% discount on their first flight.HEXA is a one-seater eVTOL capable of landing on both land and water. The aircraft has distributed electric propulsion with eighteen independent electric motors and propellers and can fly and land safely with up to six motors disabled. The aircraft weighs 432 lbs and is easy to ride with a triply redundant autopilot computer with a single, three-axis joystick. The aircraft could also allow first responders (medical, disaster response, military, search and rescue, etc.) of federal, state, and local government agencies in the US to operate HEXA today under existing regulations and reduce first response times by 50% or more, according to the company. Jeff Bezos and Anderson Cooper are among those that have already flown the aircraft.Key customers and partnershipsLift partnered with SparkCognition Government Systems and SkyGrid in <a href="https://www.liftaircraft.com/post/lift-aircraft-sparkcognition-and-skygrid-link-to-deliver-blockchain-utm-for-autonomous-vehicles">March 2022 </a>to deliver blockchain UTM (unmanned traffic management) for autonomous vehicles. In <a href="https://www.liftaircraft.com/post/cleaner-and-quieter-alternative-to-helicopter-flights-coming-soon-to-new-york-city">October 2022 </a>, Lift Aircraft signed a Letter of Intent (LOI) with helicopter tour operator Charm Aviation to establish a joint venture that will have an exclusive license from LIFT to operate in the greater NYC area and jointly develop LIFT vertiport locations in the greater NYC area over the following five years. In <a href="https://www.liftaircraft.com/post/lift-aircraft-completes-first-ever-piloted-evtol-demonstrations-in-japan">March 2023 </a>, the company partnered with Marubeni Corporation to develop and advance the eVTOL market in Japan, with participation from GMO Internet Group. The company also has secured several contracts with the US Air Force.Funding and financialsAccording to the company, it had already raised over USD 18 million in funding as of May 2023, including the oversubscribed USD 5 million RegCF on StartEngine in 2022.

Lift Aircraft

The company was under self-administration from November 2024.&nbsp;In&nbsp;<a href="https://sp-edge.com/updates/35308">October 2024</a>, Lilium announced that it planned to file for insolvency and government-supervised restructuring. The insolvency filing came after the German Parliament denied its request for a ~USD 55 million loan in&nbsp;<a href="https://sp-edge.com/updates/35028">October 2024</a>. In&nbsp;<a href="https://sp-edge.com/companies/330525">November 2024</a>, Lilium appointed KPMG to initiate an M&amp;A process, following the insolvency filing of its German subsidiaries.Based in Munich, Germany, Lilium is a transportation company that manufactures eVTOL aircraft powered by an electric battery system, making them environmentally friendly and quiet, while providing a fast and efficient mode of transportation for short to medium distances. Unlike traditional rotor-based eVTOLS, Lilium's aircraft feature jet engines, which, according to the company, provide a smoother, faster, and more efficient flight experience, with the ability to travel up to 186 miles on a single charge. The company has planned launch networks announced in Germany, the US, Brazil, and the UK and has teams based across Europe and the US.&nbsp;In&nbsp;<a href="https://lilium.com/newsroom-detail/lilium-starts-production-of-the-lilium-jet-in-watershed-moment-for-sustainable-aviation">December 2023</a>, Lilium started production of Lilium-Jet at its 175,000 square-feet facility in Wessling, Germany.In&nbsp;<a href="https://yqqqphhcg2hvaaua-test001.pj-initial.net/updates/19752">June 2023</a>, the company received the G-1 Certification basis from the FAA for the type certificate validation of its Lilium Jet. In&nbsp;<a href="https://lilium.com/newsroom-detail/lilium-receives-easa-design-organization-approval">November 2023</a>, Lilium also received Design Organization Approval from the European Union Aviation Safety Agency (EASA), making it the only eVTOL manufacturer with both an EASA and FAA certification base for a powered-lift eVTOL aircraft.&nbsp; The company was working toward a targeted initial Type Certification in late 2025 and was planning its first manned flight test of the type conforming aircraft for the second half of 2024. In February 2024, Lilium established Lilium&nbsp;<a href="https://sp-edge.com/updates/26831">POWER-ON</a>, the eVTOL industry's first customer service organization. In&nbsp;<a href="https://sp-edge.com/updates/27047">February 2024</a>, Lilium, also started installing assembly equipment for its propulsion units' serial production line partnering with Schnaithmann Maschinenbau. The company&nbsp;expected the first prototype to come off the line in Q2 2024 for testing and flight testing campaigns. In&nbsp;<a href="https://sp-edge.com/updates/31771">July 2024</a>, Lilium announced plans to advance its POWER-ON suite with the addition of the Aftermarket Services portfolio.Lilium's business model includes three main components in order to establish a diverse business and revenue stream in the emerging eVTOL market. The first involves targeting business aviation customers through private or fractional ownership sales, while the second focuses on using the Lilium Jet for regional passenger shuttle networks that will be created and operated with third parties. Lastly, Lilium intends to provide enterprise solutions by selling fleets of Lilium Jets and related aftermarket services directly to enterprise and other customers. As of April 2023, the company had secured a total order pipeline of 640 aircraft.In&nbsp;<a href="https://sp-edge.com/updates/30891">June 2024</a>, Lilium announced the conclusion of its first round of tests at maximum engine thrust for its electric jet propulsion unit, which occurred at Lilium's headquarters in Munich. In&nbsp;<a href="https://sp-edge.com/updates/32841">August 2024</a>, the company concluded the first phase of integration testing of the Lilium Jet's electrical power system, designed to support the verification of the aircraft's powertrain functionalities according to the EASA's SC-VTOL rules. In&nbsp;<a href="https://sp-edge.com/updates/34245">September 2024</a>, Lilium completed its first full-scale test aircraft, the MSN 1 airframe, which would be used as a ground testbed for Lilium's eVTOL aircraft.&nbsp;Key customers and partnershipsLilium has signed supply agreements with Tier-1 aerospace suppliers such as Toray Industries, Aciturri Aerostructures, Aeronamic, Aernnova, Astronics, Ratier Figeac (Collins Aerospace Group), Diehl Aviation, Expliseat, GKN Aerospace, L3 Harris, Honeywell Aerospace, Magnaghi Aeronautica, CUSTOMCELLS, and Perryman. Lilium teamed up with <a href="https://lilium.com/newsroom-detail/abb-and-lilium-team-to-revolutionize-charging-infrastructure-for-regional-air-travel">ABB E-mobility </a>to develop and supply MegaWatt fast-charging infrastructure. In <a href="https://sp-edge.com/updates/29169">May 2024 </a>, Lilium has partnered with UrbanLink, a pioneering company in advanced air mobility to launch eVTOL passenger service in South Florida, incorporating 20 Lilium Jets into UrbanLink's fleet. Previously, In <a href="https://sp-edge.com/updates/28275">April 2024 </a>, Lilium received a set of standby flight instruments from avionics solutions provider Garmin for use in the production of Lilium jets and the Lilium jet flight simulator for pilot training. Also, during the same time period, The company partnered with <a href="https://sp-edge.com/updates/28802">Honeywell </a>, a global technology and manufacturing company, to produce propulsion unit position sensors known as “resolvers” for the Lilium Jet in April 2024.Lilium has also entered non-binding MOUs or term sheets with certain prospective strategic counterparties, including Saudi Arabian Airlines, Bristow Group Inc., Brazilian airline Azul S.A. and Azul Linhas Aereas Brasileiras S.A., and NetJets Inc. (“NetJets”). With the launch of the Lilium Pioneer Edition Jet in December 2022, the company <a href="https://lilium.com/newsroom-detail/lilium-partners-with-evolare">signed a binding contract with eVolare </a>, a subsidiary of Volare Aviation, gaining access to prime locations around the UK, including London. In <a href="https://yqqqphhcg2hvaaua-test001.pj-initial.net/updates/19529">June 2023 </a>, Lilium collaborated with Heli-Eastern to launch eVTOLs in China. In January 2024, the company partnered with <a href="https://sp-edge.com/updates/25443">Fraport </a>, a German airport operator, to develop infrastructure for commercial eVTOL operations at multiple airports in Germany and Europe. In the same month, Lilium signed up <a href="https://sp-edge.com/updates/26076">AJW </a>Group, a commercial aircraft spare parts supplier, to manage its eVTOL spare parts inventory and to operate as the company’s sole parts distributor for its global customers. In <a href="https://sp-edge.com/updates/26779">February 2024 </a>, the company partnered with Star Charge, a Singaporean EV-charging infrastructure and micro-grid solution provider, to develop charging systems for its eVTOL operations, and PhilJets, a Philippine-based aviation provider, to establish regional air mobility in Southeast Asia, starting with the Philippines. In the same month, the company also partnered with <a href="https://sp-edge.com/updates/27047">Schnaithmann Maschinenbau </a>, a German automation and robotics company, to design and build its propulsion assembly line. The first prototype propulsion units are expected to come off the line in Q2 2024 for testing and flight test campaigns. In March 2024, Lilium signed an MoU with <a href="https://sp-edge.com/updates/27658">Atlantic Aviation </a>, an aviation services company, to electrify vertiport infrastructure.&nbsp;In <a href="https://sp-edge.com/updates/30303">June 2024 </a>, Lilium signed a collaboration agreement with Shenzhen-based Bao'an District to establish its regional headquarters there, as part of its expansion efforts in China.In <a href="https://sp-edge.com/updates/31415">July 2024 </a>, Lilium signed an agreement with Saudi Arabian national carrier Saudia Group, receiving an order for 100 of its Lilium Jets, following their MoU signed in <a href="https://lilium.com/newsroom-detail/lilium-partners-saudia">October 2022 </a>. The company also announced in <a href="https://sp-edge.com/updates/31654">July 2024 </a>that its first deliveries of its Lilium Jet is set for 2026 and that after assembly, the first piloted flight of its "Lilium Jet MSN 2" is scheduled for early 2025. In <a href="https://sp-edge.com/updates/31808">July 2024 </a>, it also partnered with the Saudi Arabian General Authority of Civil Aviation (GACA) to develop and implement the required regulations for eVTOL operations in Saudi Arabia. Further in <a href="https://sp-edge.com/updates/31898">July 2024 </a>Lilium also partnered with SEA Milan Airports and Skyports Infrastructure to develop vertiports and air taxi routes in Italy, with a planned route connecting Malpensa Airport with the city center. Later in <a href="https://sp-edge.com/updates/31929">July 2024 </a>, the company partnered with Groupe ADP to develop infrastructure and vertiports for the Lilium Jet in Europe, the Middle East, and Asia.In&nbsp;<a href="https://sp-edge.com/updates/32242">August 2024</a>, Lilium partnered with Thales Group to receive commercial off-the-shelf and bespoke antennas for the navigation and communications of its Lilium Jet. In&nbsp;<a href="https://sp-edge.com/updates/34137">September 2024</a>, Lilium partnered with Galaxy FBO and EMCJET to introduce its Lilium Jet in Houston. The partnerships involved Galaxy FBO providing regional connectivity for Lilium Jet operations by planning routes in Houston and EMCJET agreeing to purchase Lilium Jets in 2026, as Lilium’s first dealer in the US. Following which, in&nbsp;<a href="https://sp-edge.com/updates/35220">October 2024</a>, Lilium and GE Aerospace partnered to combine their flight data and analytics platforms to develop eVTOL flight data monitoring solutions.

Lilium

<div>
 
 California-based NFT Inc. (doing business as ASKA) is an eVTOL company that is actively developing ASKA&trade;, an electric drive and fly eVTOL vehicle. In April 2021, the company opened what it claimed to be the world's first flying car showroom, aimed at initiating pre-sales for a limited edition of the ASKA eVTOL vehicle, exclusively available to 1,500 customers. In
 <a href="https://www.prnewswire.com/news-releases/aska-unveils-worlds-first-drive--fly-evtol---aska-a5-at-ces-2023-las-vegas-301713240.html">
 2023
 </a>
 , the company debuted its full-scale, functional prototype of the ASKA A5. According to the company, it was the world's first four-seater electric vehicle capable of traveling by road and up to 250 miles by air on a single charge. Furthermore, the company had unveiled plans for the ASKA on-Demand ride service, which was scheduled to launch in 2026. This service would introduce a fleet of ASKA vehicles that would operate on-demand in major cities and their surrounding areas, offering passengers convenient transportation options.
 
 
 Priced at USD 789,000 (which includes pilot license training), the ASKA offers two takeoff options depending on the location: it can either take off on a runway in rural areas to conserve energy or perform vertical lifting/landing in restricted spaces. Each rotor would have an independent battery pack. However, the company has also incorporated two range extenders for redundancy, which would provide power using gasoline. Additionally, the two middle rotors of the aircraft can serve as wings, enabling gliding capability during emergency situations.
 
 
 Key customers and partnerships
 
 
 In 
 <a href="https://www.askafly.com/post/5-year-space-act-agreement-with-nasa">
 March 2020
 </a>
 , the company entered a five-year space act agreement contract with NASA to enhance its involvement in NASA's Advanced Air Mobility (AAM) National Campaign, which was jointly organized with the FAA.&nbsp;
 
 
 In 
 <a href="https://www.prlog.org/12906370-tech-mahindra-collaborates-with-aska-to-create-the-best-drive-and-fly-experience-collaboration.html">
 February 2022
 </a>
 , ASKA signed a collaborative agreement with Tech Mahindra to expedite the development, testing, and certification process of ASKA&trade; and achieve its commercialization goal by 2026. This partnership would harness Tech Mahindra's engineering expertise to support ASKA in various areas, including design, analysis, development of composites and advanced materials, crash dynamics (both automotive and aerospace), as well as battery and structural testing.
 
 
 
</div>

New Future Transportation, Inc. (NFT, Inc.)

Pivotal (formerly Opener) is an aerospace startup headquartered in California that focuses on developing innovative eVTOL aircraft. The company successfully conducted the first human flight of an all-electric fixed-wing VTOL aircraft in October 2011. Its flagship product, the Blackfly, is a personal aerial vehicle designed to provide individuals with a unique and accessible flying experience. The company claims that this was the world’s first all-electric, fixed-wing, eVTOL aircraft for personal transportation.In&nbsp;<a href="https://sp-edge.com/updates/25381">January 2024</a>, the company also launched Helix, a single-seat eVTOL aircraft that weighs ~348 pounds, and satisfies the Federal Aviation Administration (FAA) Part 103 (Ultralight) category. Helix can fly over non-congested areas and from airports in a range of ~20 miles. As of September 2024, Helix was available for pre-order starting at USD 190,000, with expected delivery in 2025.The Blackfly is a single-seat eVTOL aircraft that combines advanced technology with user-friendly features. It is powered by multiple electric motors and features a simple and intuitive control system, making it easy to operate for both experienced pilots and newcomers to aviation. With a range of over 20 miles and a cruise speed of 60 mph, the Blackfly offers convenient and efficient transportation for short to medium distances. The aircraft is equipped with redundant systems to ensure optimal performance and safety during flight. It also incorporates an innovative ballistic parachute system that can be deployed in emergency situations, providing an added layer of protection for the pilot. As of&nbsp;September 2024, the retail price of the BlackFly had not been announced.In&nbsp;<a href="https://sp-edge.com/updates/34082">September 2024</a>, Pivotal reported that it completed 1,117 crewed flights in the BlackFly aircraft and claimed it as a milestone of flights for the first in-light eVTOL aircraft. Following this, in&nbsp;<a href="https://sp-edge.com/updates/34244">September 2024</a>, Pivotal completed the delivery of 13 BlackFly aircraft to customers across the US as part of its Early Access Program.

Pivotal

Tetra Aviation, headquartered in Tokyo, Japan, is a specialized company developing eVTOL aircraft. Its primary focus revolves around the creation of its flagship product, the MK-3, which is a commercially available personal eVTOL. In <a href="https://www.prnewswire.com/news-releases/tetra-wins-100-000-disruptor-award-at-gofly-final-fly-off-at-moffett-federal-airfield-at-nasas-ames-research-center-301013998.html">2020 </a>, the company emerged as the winner of the international challenge, GoFly, sponsored by Boeing. The competition drew participation from over 820 teams worldwide, and the company was able to acquire technology and know-how on obtaining flight permits through the contest. According to Tetra Aviation, it is also the first Japanese company to obtain a test flight permit for eVTOLs from the US Federal Aviation Administration (FAA), and it began its flight testing in <a href="https://www.futureflight.aero/news-article/2021-09-02/tetra-aviations-mk-5-personal-evtol-starts-flight-testing">2021 </a>. As of May 2023, the company was also working closely with Japanese and US regulators for certification.The MK-3 is a one-seater eVTOL that can travel a range of ~100 miles (~160 km) at a cruise speed of 100 mph, with a load of ~200lbs (~90kg). The aircraft is equipped with 16 pairs of electric motors placed in nacelles along a pair of wings. Each nacelle is fitted with small vertical lift propellers, while a pusher propeller at the rear of the fuselage supports cruise flight.Funding and financialsIn its latest funding round in <a href="https://m.aviationweek.com/business-aviation/aircraft-propulsion/japans-tetra-secures-funds-personal-evtol">June 2022 </a>, the company secured JPY 450 million yen (~USD 3.3 million) for the development of its Mk-5 eVTOL aircraft.

Tetra Aviation

Companies that build eVTOLs that use rechargeable electric batteries (mostly lithium-ion) for propulsion. Batteries tend to be heavier and have lower energy density resulting in short vehicle flight-time and range.

Companies that build eVTOLs that use electricity and fossil fuels for propulsion to achieve a longer range. This hybrid propulsion system includes an internal combustion engine.

Companies that build eVTOLs that use hydrogen fuel cells for propulsion. Hydrogen fuel cells have a higher energy density than lithium-ion batteries and allow the aircraft to travel longer distances.

Providers of ground infrastructure (such as vertipads and vertiports), and air and digital infrastructure (such as navigation, flight controls, and other avionics for eVTOLs)

Contributes to the smart city concept by using tech to improve urban transportation quality

Part of Urban Air Mobility, which seeks ground congestion and air and noise pollution reduction

Near Earth Autonomy

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