By Riley Kaminer
For decades, flying cars have been a futuristic fantasy. But in a warehouse in Pompano Beach, a Florida startup is working to turn that vision into a commercial reality. And now, thanks to a $30 million strategic investment, they may be closer than ever.
Doroni Aerospace, a company developing personal electric vertical takeoff and landing (eVTOL) aircraft, just secured funding from Innovation Wings Industries, which operates as Kingdom Aero Industries. The deal is set to accelerate the launch of Doroni’s H1-X aircraft, with an eye on bringing it to market by the end of 2026.
In a statement, Doron Merdinger, Doroni’s founder and CEO, called the investment a game-changer. “This investment fuels and accelerates the H1-X development, while our joint venture will establish the production infrastructure necessary for global distribution,” he said. “We are honored to have Ismail Kashkash, CEO of IWI, join Doroni’s Board of Directors. His leadership in aviation innovation will be instrumental to our success.”
For IWI, the deal represents a broader vision. The Saudi-based aviation firm, established in 2024, is aligning itself with the country’s ambitious Vision 2030 strategy, which prioritizes cutting-edge technology and innovation.
“We believe Doroni is leading the future of personal eVTOL mobility, and the H1-X represents that future,” said Kashkash. “This partnership aligns with our mission to bring transformative air mobility solutions to the world.”
The investment is structured with an initial $5 million to be injected immediately, with the remaining $25 million tied to milestones over the next two years. Once fully completed, IWI will own a 40% stake in Doroni.
Doroni and IWI plan to establish a joint manufacturing operation in Saudi Arabia by 2027.
Major eVTOL players globally are conducting test flights and seeking certification from aviation authorities like the FAA and EASA. While companies like Joby Aviation, Archer, and Lilium have made early progress, mass adoption remains years away due to regulatory hurdles and infrastructure challenges. But increased investment and technological advancements are steadily pushing eVTOLs closer to commercial viability.
So, what makes Doroni’s H1-X different from the countless other eVTOL projects vying for attention? Doroni’s aircraft is designed specifically for personal use, aiming to put the ability to fly in the hands of individuals rather than just large-scale urban mobility networks. How about that for literally rising above traffic?
Of course, with eVTOLs still in their early regulatory stages, there’s a long road ahead before flying cars become commonplace. But for Doroni, that road is looking more like a runway.
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