Flying Taxi Startup Lands $150M After First Flight

A Brazilian startup building electric flying taxis just hit two major wins in the same week, bringing the sci-fi dream of aerial commutes one giant leap closer to your morning routine.

Eve Air Mobility released video of its full-scale prototype hovering for the first time in Brazil, successfully testing the aircraft's computer controls and power systems. Days later, the company announced it had secured $150 million in new financing from major banks including Citibank and Mitsubishi UFJ Financial Group.

The timing couldn't be better. Building an electric vertical takeoff and landing vehicle requires massive capital to navigate years of safety testing and regulatory approval before a single paying passenger can climb aboard.

With this latest funding round, Eve has now raised $1.2 billion total, making it one of the best-funded companies in the emerging electric air taxi industry. The five-year loan will support research, development, and partnerships with the infrastructure companies needed to build landing pads and charging networks.

"This successful debt raise represents a significant milestone for Eve and a strong endorsement of our leadership in shaping the future of urban air mobility," said Eduardo Couto, the company's CFO. The backing from traditional banking giants signals the industry is maturing beyond speculative venture capital into something investors see as financially viable.

Eve is targeting 2028 to launch commercial operations of its electric aircraft, which takes off and lands vertically like a helicopter but flies more efficiently. The company already has its parent company Embraer's decades of aerospace experience backing its engineering efforts.

The Ripple Effect

When major financial institutions put serious money behind new technology, it validates an entire sector. Eve's funding success could open doors for other electric aviation companies working to reduce carbon emissions from air travel while solving urban congestion. If the 2028 timeline holds, today's commuters stuck in traffic could be booking aerial rides within five years, fundamentally changing how cities think about transportation infrastructure and clean energy solutions.

The prototype flight proved the technology works at full scale, and the money is now in place to finish the job.