Yufeng Future Flight Technology

About Yufeng Future Flight Technology

Yufeng Future Flight Technology, operating as Vertaxi, is a Chinese developer of electric vertical take-off and landing (eVTOL) aircraft for the advanced air mobility (AAM) market. Founded in 2021 by Xie Ling and Dr. Liu Shiyi, the company is headquartered in Zhuhai, Guangdong, with research, manufacturing, and testing facilities in Shanghai and Zhongshan. Vertaxi aims to address urban and inter-city transportation challenges by developing autonomous, cost-effective, and intelligent aerial vehicles.

The company's primary product is the Matrix 1 (M1), a 2-ton class eVTOL designed to carry five passengers or a maximum payload of 500 kilograms. The M1 features a composite-wing structure with a 15-meter wingspan, 20 rotors, a cruising speed of 200 km/h, and a designed range of 250 kilometers. Vertaxi's business model follows a phased approach, prioritizing uncrewed air cargo operations before transitioning to passenger air taxi services. The company is targeting certification for cargo use by 2025 and passenger operations by 2027.

A significant milestone was the successful maiden flight of the M1 prototype in Shanghai in October 2023. Subsequently, the M1B variant, an airworthiness-certified model with an enhanced flight control system and higher-capacity batteries, entered the certification process with the Civil Aviation Administration of China (CAAC) in January 2024. Vertaxi has secured substantial financial backing, raising over $57 million through multiple funding rounds, including a Pre-Series B round of approximately $29 million in September 2024. It has also signed significant procurement agreements, including a deal for 100 M1 units with AVIC International Leasing, valued at over $140 million, and a letter of intent from Longhao Airlines.