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PRESS RELEASE
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LuftCar announces it has received term sheet for $100 Million from Global Emerging Markets (GEM) investment group, which will be used towards scaling up of the prototype
Wednesday, 20 September 2023

LuftCar LLC, a US based hydrogen powered eVTOL aircraft developer announced that they have received a term sheet for $100 M investment from GEM Global Yield LLC SCS ("GEM"), a Luxembourg-based private equity group. The funds will be available after a public listing. LuftCar will control the amount and timing of fund drawdowns under this agreement, with GEM LLC being offered up to 10% equity.

'With the prototype demonstration of LuftCar's innovative airframe design, which involves a LuftCar IP of five point docking mechanism and a self aligning catch tongue, we are confident that we will make a big market impact in air cargo, defense and regional transportation segments. The funds from GEM LLC will be used to scale up commercialisation efforts and will be treated as Series A investment' says Santh Sathya, Founder, Chairman and CEO of LuftCar.

LuftCar is currently developing a two seater prototype with seed funding. A five seater commercial version will be developed after the proof of concept. With the funding pipeline clearly visible for Series A, LuftCar is aiming to close its seed round and is inviting seed stage investors to invest.' The risk for early stage /seed investors is minimized due the availability of later stage funding agreement with GEM LLC. Early stage investors will see a 10X ROI within six to 12 months', added Santh Sathya. Investors are requested to email: invest@luftcar.com or contact Ph: +1 408 905 0036

Contact details from our directory:
LuftCar LLC Airframer
Related aircraft programs:
LuftCar eVTOL