# Dream Fly

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/dream-fly

- Industry: Aerospace
- Headquarters: Hangzhou, China
- Total disclosed funding: $28M
- Latest round: Series A (Sep 3, 2026)
- Investors on record: 13

## About

Based in Zhejiang, China and founded in 2022, Zhejiang Zhuimeng Aerospace Technology Co., Ltd., doing business as Dream Fly, is an aircraft developer that focuses on the research and development of hybrid tilt-rotor vertical take-off and landing aircraft (eVTOL). The founder of the company, Wenkuan Cai, who graduated from Tsinghua University and has 15 years of experience in the aviation industry. The core team members of Dream Fly come from Northwestern Polytechnical University, Nanjing University of Aeronautics and Astronautics, and other universities. 

In September 2026, Dream Fly raised a Series A+ funding led by Hangzhou Low Altitude Industry Development Co., Ltd., with participation from Xiaoshan Financial Holdings, Caitong Capital, Buhuo Venture Capital, Qianhai Ark Capital, SDIC Taikang Trust, Aviation Investment Fund, and Hangzhou Xiaochi Private Equity Fund Management.

The company focuses on the development of hybrid tilt-rotor vertical take-off and landing aircraft. Products include the DF600 Jinghong ton-class hybrid tilt-rotor unmanned eVTOL and the DF3000 Youlong manned eVTOL. The DF600 is mainly aimed at scientific research flight, reconnaissance and surveillance, and material transportation. The DF600 has completed the full process test flight of the tilt-rotor transition in 2024.

The company generates revenue by providing eVTOL aircraft, such as DF600 tom-class hybrid tilt-rotor unmanned eVTOL and DF3000 manned eVTOL.

The company will use the latest funding for tackling airworthiness certification for cargo aircraft, building mass production capabilities, engineering development of manned aircraft, improving the industrial chain system, and expanding the core technology team, accelerating technology implementation and commercialization.

## Funding rounds

- Series A, Sep 3, 2026 — Buhuo Venture Capital, Qianhai Ark Capital, Caitong Capital, SDIC Taikang Trust, Hangzhou Xiaochi Private Equity Fund Management, Xiaoshan Financial Holdings, Aviation Investment Fund, Hangzhou Low Altitude Industry Development Co., Ltd.
- Series A, Dec 8, 2025, $28M — Haibang Venture, Peakvest Investment, Deqing County Government Industrial Fund, Aviation Investment Fund
- Seed, Sep 11, 2023 — Tengye Ventures, Tsinghua Capital

## Investors

- Tengye Ventures (https://capitalatlas.ai/funds/tengye-ventures) — Seed
- Tsinghua Capital — Seed
- Haibang Venture — Series A
- Peakvest Investment — Series A
- Deqing County Government Industrial Fund — Series A
- Aviation Investment Fund (https://capitalatlas.ai/funds/aviation-investment-fund) — Series A
- Buhuo Venture Capital (https://capitalatlas.ai/funds/buhuo-venture-capital) — Series A
- Qianhai Ark Capital (https://capitalatlas.ai/funds/qianhai-ark-capital) — Series A
- Caitong Capital (https://capitalatlas.ai/funds/caitong-capital) — Series A
- SDIC Taikang Trust — Series A
- Hangzhou Xiaochi Private Equity Fund Management (https://capitalatlas.ai/funds/hangzhou-xiaochi-private-equity-fund-management) — Series A
- Xiaoshan Financial Holdings — Series A
- Hangzhou Low Altitude Industry Development Co., Ltd. — Series A