The Spanish Ministry of Science, Innovation and Universities has announced a substantial investment of €5.4 million in Crisalion Mobility, a pioneering technology company. This capital injection will be facilitated through the Centre for Technology Development and Innovation (CDTI), reflecting the government’s commitment to supporting advancements in science and innovation within the country.
Crisalion Mobility, with this latest funding, has now successfully raised nearly €20 million in capital to date. This financial backing underscores the Ministry’s recognition of the company’s potential to contribute significantly to technological development and mobility solutions. It marks a pivotal moment in Crisalion Mobility’s journey, enabling them to further expand their research and development efforts and solidify their position as a key player in the evolving landscape of innovative technologies.
Spanish Ministry of Science, Innovation and Universities invests €5.4 million in eVTOL aircraft company Crisalion Mobility
Crisalion Mobility, formerly UMILES Next, a Spanish leader in the design and development of advanced electric mobility solutions that are efficient, safe and sustainable, has been selected by CDTI Innovación (Centre for Technology Development and Innovation), under its Innvierte programme, and by Cuyam (Grupo Valdemira) to receive a total investment of €5.4 million.
CDTI Innovación is a Spanish public organisation which falls under Spain’s Ministry of Science, Innovation and Universities and supports innovative projects in these areas, offering advice and public funding through subsidies and partially repayable financial support. On this occasion, Crisalion Mobility is one of the companies selected to receive capital.
A firm step for further growth
“This investment agreement is a major step forward in Crisalion Mobility’s growth plan. The company continues to deliver on its roadmap, offering an unrivalled approach to air and ground mobility through strategic technologies that will be crucial to the development of the vehicles of the future. The Spanish Government has offered its constant, invaluable backing for innovation, playing a key role in supporting successful projects which contribute to progress in technology and economic prosperity in the field of mobility,” commented Carlos Poveda, CEO of Crisalion Mobility.
This investment is a major milestone in Crisalion Mobility’s history, reflecting the Public Administration’s recognition of the company. The CDTI, through its Innvierte Economía Sostenible initiative, supports and facilitates financing for technology companies, and CDTI Innovación aids the global expansion of R&D and innovation projects by Spanish companies and organisations. It also manages the participation of Spanish companies in global organisations such as Horizon Europe and Eureka, and in the science and space industry.
Crisalion Mobility, formerly UMILES Next, continues to roll out its development programme for air and ground mobility solutions that will transform the way people move.
BlueBull, an investment bank specialising in high-growth technology companies, is acting as exclusive financial advisor to Crisalion Mobility. The two are already working together on an upcoming €25 million Series B round.