Aerospace tech firm Gilo Industries Group lands £24.9m
Funding will enable Dorset company to commercialise its aviation technology and expand into the Asia-Pacific region
Gilo Industries Group, a Dorset-based advanced aerospace technology company, has raised £24.9m in funding from Chinese technology group Kuang-Chi in its first UK investment.
Founded by Gilo Cardozo, Gilo Industries designs, develops and manufactures aerospace products, systems and services including everything from foot-launched paragliders to ultra-light propulsion systems.
The Group operates four companies: Rorton Power, a manufacturer and supplier of advanced rotary engines for small and medium-sized unmanned aeronautical vehicles; Parajet International, which builds foot-launched powered paragliders; GI Applied Technologies, an advanced design & analysis engineering consultancy; and Gilo Industries Research, a research and development lab.
This investment will enable Gilo to improve and further commercialise its aviation technology and to expand across the Asia-Pacific market. It will also look to establish relationships with global market leaders across multiple industries.
Cardozo, chief technology officer of Gilo, commented: “The support from Kuang-Chi is exactly what we need to continue to expand our production capabilities and embrace exciting new manufacturing technologies to help us grow and succeed in the global marketplace.
“It is a really clear example of how international organisations look to all areas of Britain for innovation and entrepreneurship and how they can boost regional, national and global industries.”
Dr. Ruopeng Liu, chairman of Kuang-Chi, said: “We are delighted to make our first UK investment in Gilo, which we hope to be the first of many investments in the coming years.
“Gilo is a fantastic company that is a leader in innovation, with breakthrough aerospace engineering technologies and products. We look forward to working with them to develop our visionary aviation technology.”