IDG Capital and 5Y Capital led a $500m funding round in HT Aero.

IDG Capital, an investment and asset management firm, and 5Y Capital, a private equity firm, led a $500m Series A funding round in HT Aero, a flying car startup. Additional investors included Sequoia China, Eastern Bell Capital, GGV Capital, GL Ventures and Yunfeng Capital. “Our next-generation model will be a fully integrated flying vehicle and automobile, designed for both low-altitude air travel and road driving,” Deli Zhao, HT Aero Founder and President.