How is HOVR going to succeed if it does not have any backers like the other EVTOL companies?

Prototyping to Certification to Manufacturing can easily cost over a $1 billion.

HOVR has around $80 million in cash and is still at the prototyping phase. It doesn't even have a proven prototype yet. Certification + Manufacturing could also cost like >$700 million based on previous EVTOL company experience. Even if it's just $500 million more, where is HOVR going to get all that money?

Isn't it more likely that it's going to bankrupt like the countless other EVTOL startups without backers?