HopFlyt
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HopFlyt - overview
Established
2016
Location
-, MD, US
Primary Industry
Aerospace
About
Based in the US, HopFlyt develops electric vertical takeoff and landing (VTOL) unmanned aerial systems, focusing on sustainable and efficient cargo transport solutions. HopFlyt, founded in 2016, specializes in hybrid-electric VTOL unmanned aerial systems. The company is located in the US and was established by Rory Feely. It has completed a total of 5 deals, with the most recent funding round occurring on November 15, 2022, when it raised USD 1.
000 mn. Rob Winston serves as the CEO. HopFlyt's primary product offering is the Cyclone UAS, a hybrid-electric vertical takeoff and landing (VTOL) unmanned aerial system designed for long-range maritime cargo transport. This innovative solution addresses logistical challenges of delivering cargo efficiently and sustainably over extensive distances, focusing on reducing operational costs and minimizing carbon emissions compared to traditional offshore helicopters.
The Cyclone UAS is engineered for versatility, appealing to sectors such as maritime logistics, emergency response, and remote delivery services. The company targets a diverse client base including government agencies, commercial logistics providers, and defense contractors across markets in North America, Europe, and parts of Asia-Pacific. HopFlyt operates on a business-to-business (B2B) model, generating revenue through direct sales of its Cyclone UAS to commercial and governmental entities. The company's transaction structure revolves around capital sales, where clients purchase the UAS outright, with potential service contracts for maintenance and support.
The Cyclone UAS commands strong interest from clients seeking advanced aerial solutions, and pricing plans are tailored to meet specific client needs, aligning with industry standards. In November 2022, HopFlyt raised USD 1. 000 mn in venture funding from Albers Aerospace to enhance the design, development, and production of military variants of its electric vertical takeoff and landing aircraft. The company aims to expand its offerings with upcoming products tailored for military applications and plans to penetrate additional markets in North America and Europe by 2024.
Current Investors
Maryland Technology Development Corporation, Albers Aerospace
Primary Industry
Aerospace
Sub Industries
Aerospace
Website
www.hopflyt.com
Verticals
Clean Technology, Electric & Hybrid Vehicles, Manufacturing
Company Stage
Series A
Total Amount Raised
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