British military jet developer, Aeralis, has signed an initial £10.5 million ($14.5 million) investment agreement with an as-yet unnamed “Middle Eastern sovereign wealth fund”.
This new injection of finance will be used to support the design, development and first flight of the company’s innovative Advanced Jet Trainer (AJT) platform.
Earlier this year, the start-up agreed a three-year contract with the UK Royal Air Force’s Rapid Capabilities Office (RCO) for research and development into a new modular approach to the design and development of future aircraft.