About this raise: Novo Aero Technology is flying in in a big way, as they’re developing vertical take-off planes. Their proposed hybrid aircrafts will employ an innovative compact propeller to lift the aircraft, and the overall design, when compared to a conventional helicopter, will make it cheaper to produce, cheaper to maintain, and less prone to accidents. They also predict their design will allow for operating the aircraft at relatively higher speeds and altitudes. Novo Aero is currently pre-prototype and in the research and development phase. So far, they have assessed the performance of over 100 blade combinations and layouts for use in their compact propellers, conducted extensive market research, and submitted an initial patent application for their technology.