SG engineering firm’s VC unit invests $3m in UK air mobility startup

Skyports, a UK-based advanced air mobility (AAM) infrastructure developer, has closed its series B funding round with US$3.13 million in follow-up investment from the VC arm of Singapore-headquartered ST Engineering.

Photo credit: Skyports

The startup has raised US$26.13 million in total from the oversubscribed series B round, which also drew in Kanematsu Corporation, Goodman Group, 2i Aeroporti, and GreenPoint.

Skyports has been working with ST Engineering since early 2021 on reservoir monitoring and inspection for Singapore’s public utility board.

The joint operation leverages Skyports’ expertise in flight operations and ST Engineering’s drone solution, DroNet, to conduct autonomous BVLOS flights across the city-state’s network of reservoirs.

In early 2022, the two companies and Sumitomo Corporation set up an entity to provide drone-based services for ship-to-shore parcel deliveries in Singapore.

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Following the fundraise, Skyports plans to strengthen its ties with industry partners, regulators, and others to develop better AAM-based solutions.

In July, AirAsia Aviation Group Limited’s dedicated AAM unit signed an agreement with Skyports to establish a fully operational vertiport network. Under the partnership, the companies will conduct feasibility studies for integrating the network as well as identify potential sites and operational requirements to implement the project.