New Horizon Aircraft develops the Cavorite X7, a hybrid eVTOL designed to combine conventional propulsion with electric-assist vertical takeoff and landing capabilities. The company emphasizes a hybrid approach to improve range and safety while reducing reliance on current battery limitations. With the recent $20 million direct placement, it plans to accelerate R&D, technical tests, certification, prototype production, and to expand its engineering and industrial teams. The Cavorite X7 is described as capable of vertical takeoff and landing while retaining conventional airplane performance. The firm positions itself amid growing global interest in advanced air mobility and competes with other eVTOL developers. No revenue, user, or prior funding metrics were disclosed in the article.

Total raised

$20M

Funding rounds

1

Latest round

Equity

Latest activity

May 2026