The aircraft — an all-electric ultralight one-seater that can be referred to as an octocopter — is "safe, tested and legal to operate in the United States in uncongested areas," the company said in a statement. "You don't need a pilot's license, and you'll learn to fly it in minutes."
The company says the aircraft, called the Kitty Hawk Flyer, can automatically hold an altitude of up to 15 feet.
Enthusiasts will be able to purchase the craft — designed for use only over water — by the end of the year for an as-yet-unannounced price.
"We believe when everyone has access to personal flight, a new, limitless world of opportunity will open up to them," the company says on its website.
Kitty Hawk is not the only company that has received capital to develop alternative air transportation.
Page reportedly invested in another company, Zee.Aero, which is working to develop an electric plane that can take off and land vertically, and a competing company, Ehang, recently announced that its passenger drone will launch regular service this summer.
ABC News' Whitney Lloyd contributed to this report.