Team New Zealand might not have had a scaled down test boat ahead of their AC75 launch, but that hasn't appeared to hinder their progress on the water.

New footage has been revealed for the team's first AC75 'Te Ahie' under sail on its foils and manouvering.

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Team New Zealand have been a regular sight out on the water in recent weeks getting familiar with the vessel and learning what elements need to be improved for their second race boat.

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"We're under no illusions that if we were to race the America's Cup in the exact boat we've got on the water now, then we wouldn't be too competitive," Team New Zealand designer Dan Bernasconi told the Herald last month.

"These first few weeks on the water are incredibly valuable because we'll learn lessons in terms of performance, boat handling and mechanical systems that will feed into the next design. It's really these next few weeks that are most important because we need to get into the build of our second boat really soon to be able to launch in time to get that on the water and debug for the America's Cup."

All four of the initial entries to the regatta in 17-months' time have now launched their first AC75, while Stars and Stripes Team USA remain committed to competing in 2021.