Zurich, Switzerland-based creator of the world’s first and only virtual reality (VR) simulator authorized by a major aviation regulator, Loft Dynamics, raised USD 20 million in financing. The company, earlier known as VRM Switzerland, announced its rebranding and funding on December 5, 2022. U.S. technology investors Craft Ventures, Sky Dayton, and Up Ventures led the financing for the firm.
As a part of the deal, Sky Dayton intends to serve on Loft Dynamics’ board of directors.
Purpose of investment by Loft Dynamics
With the latest capital injection, Loft Dynamics seeks to accelerate its growth into international markets, such as the USA.
In addition, the company’s rebranding from VRM Switzerland to Loft Dynamics positions it for global expansion at a time when the pilot shortage has reached a crisis point, and the need to reduce air pollution has never been more urgent.
What the company’s co-founder has to say
Fabi Riesen, Co-Founder & CEO of Loft Dynamics, said, “After many years in development, we are ready to expand Loft Dynamics to become a global company and bring our technology and training solutions to the world. This funding comes at exactly the right moment as we will be able to meet the escalating demand for flight schools and accelerate the range of aircraft types we support.”
What the investors have to add
Sky Dayton, investor and founder of Earthlink and Boingo Wireless, said, “As a jet pilot, I have spent countless hours in traditional flight simulators, and unfortunately, I know their limitations. I heard about this innovative company in Zurich combining VR with motion and flew to Switzerland to see it for myself. I was blown away by the realism: I landed on a runway, and as the skids touched down, I could feel the texture of the asphalt. Then, I practised emergency procedures that would be extremely dangerous in an actual helicopter. Days later, I still had the muscle memory of the movements and vibrations of the real aircraft. Loft Dynamics is going to revolutionize pilot training.”
What the Loft Dynamics customer has to say
Christoph Zammert, Executive Vice-President Customer Support & Services at Airbus Helicopters, a Loft Dynamics strategic partner and customer, further added, “At Airbus Helicopters, we are committed to pushing technology forward to enhance safety in training. The Loft Dynamics simulator allows pilots to regularly train the full range of normal, abnormal, and emergency procedures, in addition to all manner of weather conditions – safely and immersively anywhere in the world.”
What the EASA official has to add
Patrick Ky, Executive Director and head of the European Union Aviation Safety Agency (EASA), said, “When open-minded entrepreneurs apply innovative technology to a safety objective, large changes are possible in a short time frame. Loft Dynamics is paving the way for the integration of Virtual Reality applications in pilot training. EASA looks forward to seeing the flight safety benefits of this as soon as possible, in line with the objective of EASA’s Rotorcraft Safety Roadmap of increasing safety by 50% by the end of 2028 compared with 2017 figures.”
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