Akihabara News (Tokyo) — Annual data published by the Official Gazette provides a picture of eVTOL-maker SkyDrive’s growing expenditures.
In the most recent report, covering the firm’s financial year from July 2021 to June 2022, a financial loss of ¥1.74 billion (US$13 million) was recorded.
Company losses have been leaping higher year by year. In the three previous annual reports published in the Official Gazette, this figure went from ¥234 million (US$1.8 million) to ¥536 million (US$4 million) to ¥1.19 billion (US$8.9 million).
As a startup developing new technology, of course, the firm is not expected to be making a profit at this stage, and the growing financial losses would reflect the expansion of its team and growing investments in research and development and other necessary expenses.
At any rate, SkyDrive has been doing very well in terms of funding. In late September, the firm announced that it had reached ¥14.7 billion (US$110 million) in accumulated fundraising since its establishment in July 2018.
A wide range of major Japanese corporations are backing SkyDrive, which is currently positioned as the leading eVTOL developer in the country.
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