Tokyo-based drone startup A.L.I. Technologies is now scheduled to open sales of its XTurismo Limited Edition hoverbike valued at JP¥77.7 million by October.
Tokyo-based drone startup A.L.I. Technologies Inc. was founded by Shuhei Komatsu in 2016, and with a passion for Star Wars and experience as a Merrill Lynch derivatives trader, he is well on the way to taking his flying motorbike, XTurismo, public in Japan. Valued at JP¥77.7 million, the single-person XTurismo hoverbike has a maximum speed of 80 kilometres per hour and travels up to 40 minutes per charge, according to the company.
Labelled the world’s first practical hoverbike, XTurismo has been showcased at various public events including an exhibition in Daikanyama Tsutaya as well as its recent appearance in a baseball game debuted by Japanese Baseball Manager Tsuyosh Shinijo.
Although the tech invention continues to draw in global interest, A.L.I. Technologies President Daisuke Katano has mentioned its strong appeal to Middle Eastern nations. Katano further elaborated on his claim: “the need for these bikes is rather higher in places with desert or other difficult terrains,” as the XTurismo automobile ensures convenience and ease in travel for places that might be improper and inaccessible to cars, such as deserts and across waterbodies.
Additionally, the company leads its selection of underwriters for an initial public offering (IPO) to place on the Tokyo Stock Exchange Mothers, an acronym for the high-growth and emerging market in Japan for startup companies to list and trade shares.
“Presently they are engaged in discussions with the Tokyo Stock Exchange,” Katano stated, and has yet to confirm the valuation and timeline for any offers at the moment.
Successful IPO will ensure A.L.I. Technologies as the sole listed company in Japan that specialises in cutting-edge technology in air mobility. This will further highlight its achievements in the field as well as drive listings for its stocks.
Katano also expressed, “Given that air mobility companies listed in the U.S. hold pretty sizeable market caps, considering our company to be of a similar value, I think we’ll be able to win the understanding of investors for a decent valuation.”
A.L.I. Technologies is aiming to secure US$1 billion or more in valuation to gain a unicorn status in the long run.
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