时的科技 has secured B+ strategic financing to enhance its leadership in the eVTOL sector, supported by significant investment from local government and venture capital firms.

Target Company Overview

时的科技, a pioneering company in the eVTOL (electric Vertical Take-Off and Landing) sector, has recently completed a B+ round of strategic financing. This round of funding was jointly led by Shanghai DaLingHaoWan Venture Capital and Zifeng Capital, with Kunlun Capital previously investing in the company in February 2023. This financing round is particularly significant as it marks the first direct investment in an eVTOL project by the city government under the action plan for the high-quality development of the low-altitude economy from 2024 to 2027 proposed by Shanghai. This initiative underscores the strategic support from the municipal government towards the eVTOL industry and highlights the recognition of 时的科技's core technological capabilities and long-term growth potential.

The city of Shanghai is committed to fostering local eVTOL enterprises to emerge as leaders in the low-altitude economy. The government aims to promote commercial implementations of low-altitude tourism and intercity transport throughout the Shanghai and Yangtze River Delta region. Effective commercialization of the eVTOL sector relies heavily on local government support and policy incentives. Collaboration between local state-owned assets and manufacturers is essential for the development of infrastructure, airspace management, and the future realization of “air taxi” scenarios.

Industry Overview in China

In recent years, the low-altitude economy in China has gained substantial attention, particularly following the launch of the action plan in Shanghai. A myriad of initiatives has been introduced to stimulate the growth and embrace the potential of this emerging industry,