XTI Aircraft has re-launched its crowdfunding offer on StartEngine altering the offer and stating it has accelerated its development schedule with a plan to fly a 10% scale model after it receives its next $1.2 million financing round. XTI will then bump up to a 2/3 scale “piloted prototype” two years following an additional funding round. The company also stated it had signed an agreement with Scion Aviation (Scion) and Scion UAS (SUAS) for prototype development.
XTI Aircraft has conceptualized a six-seat plane, called the TriFan 600, that will fly like a plane but can take off and land like a helicopter. The creators expect the aircraft to cruise at 400 MPH with a range of 1600 miles.
XTI launched a Reg A+ stock offer earlier this year seeking a raise a minimum of $3 million from early stage investors. The offer was listed after receiving over $20 million of indicated interest from Testing the Waters. The non-binding indications of interest did not stick and the offer fizzled and management had to pull the campaign. XTI states they have once again received investor interest and they have refiled with no stated minimum funding.
While the concept is very cool the amount of capital to bring the vehicle from concept to consumer market reality is significant. The offering circular states XTI will require a minimum of $400 million in capital to fully implement its proposed business plan. Even if it meets the development schedule, XTI does not expect to deliver certified aircraft until 2022 at the earliest.
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