eVTOL company EHang Holdings announced it raised $23M via a private offering.

 

eVTOL company EHang Holdings announced it raised $23M via a private offering.  The funds originated from Lee Soo Man, founder of the K-pop company SM Entertainment. The transaction is expected to finalize in Q3 2023, pending regulatory approval. In December, EHang completed the first flight of the EH216 autonomous aerial vehicle as part of an operations trial by the Spanish National Police at its academy in Avila. In February, the company completed the first autonomous eVTOL flight in Japan, carrying two passengers and no pilot along Tanoura Beach in Oita. $EH closed up 19.55% for the day and 32.40% MoM on Wednesday.