Investors sought to help build flying cars

In an attempt to attract investors for a new type of transport, crowdfunding provides the platform.

Can crowdfunding help make flying cars a reality?

Massachusetts-based firm Terrafugia believes so. It may seem like something out of the Jetsons, but the company is building a "roadable aircraft" -- otherwise known as a flying car. 

While such an idea may spark the fantasies of the average consumer, it is investors that must be swayed -- and so Terrafugia has turned to crowdfunding platform Wefunder to make the vehicle a commercial reality. 

After being founded in 2007, Terrafugia has managed to build and fly two prototypes after securing roughly $10 million in funding. However, in order to finish the design and manufacture of flying car no.3, the company has turned to a platform designed for the professional investor, offering converted stock notes in return for capital.
In the air, the Transition cruises at 100mph, has 20mpg mileage and a 400 mile range. On the road, the plane/car hybrid can hit 35mpg, and its 23 gallon tank gives it a range of 800 miles. Under official classifications, the Transition is considered a "multipurpose passenger vehicle" suitable for occasional off-road use. 

A model can be reserved for a bargain basement price of $10,000, and while you can become a sports pilot in less than 20 hours, training is also available to help experienced pilots understand the controls. The company has managed to secure over $30 million in pre-orders for a flying car, and the campaign has secured $10,419,100 in funding out of a $500,000 goal. 

Via: Wired

This post was originally published on


You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
See All
See All