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  • Writer's pictureRishav Shrestha

LuftCar Receives $100 Million Term Sheet from Global Emerging Markets (GEM)

Updated: Nov 2, 2023

courtesy of

Orlando, FL, USA - LuftCar LLC, a US based hydrogen powered eVTOL aircraft developer announced that they have received a term sheet for $100 M investment from GEM Global Yield LLC SCS ("GEM"), a Luxembourg-based private equity group. The funds will be available after a public listing. LuftCar will control the amount and timing of fund drawdowns under this agreement, with GEM LLC being offered up to 10% equity.

‘With the prototype demonstration of LuftCar's innovative airframe design, which involves a LuftCar IP of five point docking mechanism and a self aligning catch tongue, we are confident that we will make a big market impact in air cargo, defense and regional transportation segments. The funds from GEM LLC will be used to scale up commercialisation efforts and will be treated as Series A investment’ says Santh Sathya, Founder, Chairman and CEO of LuftCar.

LuftCar is currently developing a two seater prototype with seed funding. A five seater commercial version will be developed after the proof of concept. With the funding pipeline clearly visible for Series A, LuftCar is aiming to close its seed round and is inviting seed stage investors to invest.’ The risk for early stage /seed investors is minimized due the availability of later stage funding agreement with GEM LLC. Early stage investors will see a 10X ROI within six to 12 months’, added Santh Sathya. Investors are requested to email: or contact Ph: +1 408 905 0036

About LuftCar: LuftCar LLC is a USA based OEM, developing a hydrogen fuel cell powered autonomous electric Vertical Takeoff and Landing (eVTOL) air/road vehicle or ‘Flying Forklift’, designed to carry road vehicles. The LuftCar vehicle will serve:

  1. air cargo markets by providing affordable last mile, door to door delivery for distant communities

  2. emergency medical services and disaster relief by airlifting ambulances and rescue vehicles

  3. defense and national security by providing ship to ship, ship to shore and shore to outpost mission capable flying forklift platforms

  4. regional transportation by connecting distant communities with major cities, democratizing travel with faster and low-cost operations.

LuftCar Corp is also designing and developing a hydrogen fuel cell/battery hybrid propulsion system, which will be plugged into the LuftCar and other eVTOL platforms, creating demand for green hydrogen and accelerating the adoption of hydrogen in air mobility. LuftCar has operations in Florida, Connecticut, New Jersey, California, Germany and Dubai.


About the GEM Group: GEM Global Yield LLC SCS, part of the Global Emerging Markets Group, is a $3.4 billion, alternative investment group with offices in Paris, New York, and Nassau (Bahamas). GEM manages a diverse set of investment vehicles and has completed over 500 transactions in 70 countries. For information:

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1 Comment

Danielle McLean
Danielle McLean
Sep 22, 2023

Oh snap!!! It's happening!

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