“Like a quadcopter, the SkyProwler has four horizontal propellers that allow it to perform vertical take-offs and landings, and to hover in mid-air. … If users want to make it really sleek and fast, though, they can instruct the aircraft to retract its landing gear and pull its four copter props into the sides of its body, switchblade-style. It’s then being powered solely by the two rear props, maintaining lift using its wings.”

Source: www.gizmag.com

SkyProwler is just the beginning, however.  Krossblade really wants to build aircraft large enough to carry passengers.

Company website:

http://www.krossblade.com

SkyProwler Kickstarter campaign:

https://www.kickstarter.com/projects/350745213/krossblade-skyprowler-multi-mission-vtol-transform?ref=nav_search