A month on from its previous round of funding, flying car startup AeroMobil has secured a fresh injection of capital from InfraPartners Management (IPM). The terms of the investment were not disclosed.

The Slovakian company is developing a vertical take-off and landing (VTOL) flying vehicle that it claims it will deliver to customers by 2020. Prices per vehicle will be between €1.2 million and €1.5 million.

With the new investor’s help, AeroMobil will take its flying car on an investment roadshow in Asia with a particular focus on South Korea and China, where IPM has a regional presence. It is headquartered in London. AeroMobil presented one of the more advanced strategies in this field, according to IPM managing partner Marian Bocek.

The funds will be invested in the ongoing production, testing, and certification of the flying vehicle. Asia will be a key market for the startup as it cites traffic congestion and poor infrastructure as drivers behind the development of the flying car.

“Now that we have launched the next generation of the AeroMobil flying car we are 100% focused on getting the vehicle ready for testing this year and delivery to our first customers by 2020,” said CEO Juraj Vaculik. “We are confident the engineering and technology approach we have taken will ensure this vehicle will meet growing demand for personal air transport.”

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