hDock42 fund buys stake in Orbis Avia aircraft manufacturing startup

Private equity and early stage investment fund hDock42 has purchased a stake in Orbis Avia, a Czech Republic-based aircraft manufacturing startup, the company said.

The company said that one month after its entry into Orbis Avia, the first three aircraft were sold with delivery dates in 2017.

A general purpose aircraft manufacturer, Orbia Avia is set to release its first aircraft model, the Praga Alfa, scheduled to launch in 2017 and has been designed to cost less than competitors on the market while still maintaining focus on technological advances and low operational costs. The new partnership with hDock42 Ltd ensures that Orbia Avia will be able to expand into under-targeted market spaces, such as Europe, Australia and Latin America.