New Zealand's Martin Aircraft has struck a deal with Hong Kong investment fund KuangChi Science worth up to $50 million over the next 2½ years.

The cornerstone investment puts the aviation company, with ambitions to be the world's first to market with a commercial jetpack, back on track for an ASX listing in February.

The focus of Martin Aircraft's marketing campaign is to sell the jetpacks, which can fly up to two passengers. Credit:Ben Rushton

KuangChi Science was introduced to Martin Jetpack when its chief executive accompanied Chinese President Xi Jinping on his visit to New Zealand in November. KuangChi Science have also since signed a memorandum of understanding with Airways New Zealand, the state-owned company that manages air traffic control.

Martin Aircraft is raising capital to fund the commercialisation of its signature Martin Jetpack, invented by company founder Glen Martin. First sales are targeted for third quarter 2016, with the retail price estimated to be around $US200,000.