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Samson Sky has begun fundraising to start the production phase for the Switchblade flying car. The company is using the crowdfunding platform Wefunder which is a major milestone following the Switchblade's first flight on Nov. 5, 2023.
James Mauch, Samson Sky Board Member, said crowdfunding is often used as an early step in a larger campaign to raise funds. Mauch said crowdfunding has the ability to allow smaller investors the same opportunities as larger investors. In December Samson Sky announced progress following the historic first flight, including millions added to the order books, a new patent and an introduction to plans for a crowdfunding campaign.RELATED STORIES:Samson Sky shares milestones after first flight, launches crowdfunding campaignSamson Sky Switchblade flying car takes first official flight
"Your investment in the Switchblade does three things: it offers the chance for financial rewards, includes you in part of something both cutting edge and eco-friendly, and helps usher in the future of transportation," Samson Sky CEO Sam Bousfield said.
Samson Sky named key highlights for investors, including great design, scale production plans, widespread popularity, a global patent strategy, $10 million raised before crowdfunding and $472 million in orders and growing. The company is also eco-friendly, using unleaded auto fuel in place of leaded avgas, utilizing hybrid electric transmission and non-toxic and fully recyclable carbon parts production.
The Switchblade is a three-wheel, street-legal vehicle that can fit in a garage. Users can drive the Switchblade from their garage to the airport and then transform the vehicle, bringing out the wings and extending the tail in under three minutes to fly to their next destination. The registered Switchblade will fly to the next destination at up to 160 miles per hour. The user will then land and transform the flying sports car to a driving mode and continue on the journey.
The Wefunder page currently has over $130,000 of a $300,000 goal. The page said that investors who continue the first one million get better terms.