Austrian aviation startup CycloTech receives €20M in a new funding

CycloTech, a Linz-based company that develops flight propulsion technology, has received a €20 million investment. The funding from Breeze Invest and Konos Holdings will enable further development of the first full scale prototype of the CycloRotor propulsion system.

• CycloTech provides the aviation Vertical Take-off and Landing (VTOL) market with a 360° thrust vector control system as a main or auxiliary propulsion technology. The company claims that CycloRotors are compact and allow precise manoeuvrability and a stable transition from hover to flight even in harsher weather conditions.
• Since its inception in 2016, the company has developed six generations of CycloRotors. The current version has been undergoing flight test operations since 2021. This rotor technology enables the industry to create aircraft, especially for UAV, UAM, and individual air mobility (IAM) applications.
• In addition, Cyclotech explores a Vertical Axis Wind Turbine design with the Cyclogyro principle as the underlying technology.

• The startup is backed by Breeze Invest, an Austrian based private investment boutique providing smart money to startups and SMEs with a clear growth strategy, and Konos Holdings. In total, the startup targets to raise €53 million of investment capital in 2024.

Our commitment to CycloTech reflects our strong confidence in the potential of urban air mobility. We are convinced that CycloTech’s unique technology will revolutionize how we move from A to B in the long term,

Maximilian Schönfeldt, Managing Director of Breeze Invest, commented.

• The fresh capital will be used to prepare the CycloRotor for certification by the European Aviation Safety Agency (EASA). This latest financing round thus lays the foundation for CycloTech’s plan to develop a marketable product by 2030.