Flying taxi firm Volocopter raise £172m in latest funding round as they set sights on 2 year launch
Volocopter, one of the world’s leaders in urban air mobility (UAM), announced the signing of their Series D funding round, raising £172million in additional capital.
Cumulatively, Volocopter has raised £277million. The funding will be used to solidify Volocopter’s position in the UAM market by bringing the VoloCity, the battery-powered air taxi for cities, to certification and by accelerating the launch of its first commercial routes.
Volocopter say they are in the final stages of providing new, sustainable mobility options for cities around the world. Their future services range from electric autonomous air taxis flying passengers directly and safely to their destinations, to transporting goods with the company’s VoloDrone.
Having ten years of development experience, Volocopter is one of the leaders in the urban air mobility space. As the first and only electric vertical take-off and landing (eVTOL) company to receive Design Organisation Approval (DOA) by the European Union Aviation Safety Agency (EASA), Volocopter expects its first commercial air taxi routes to be opened within the next two years.
Florian Reuter, CEO of Volocopter, said: “Volocopter is ahead of the curve in the UAM industry, and we have the achievements to prove it.
“No other electric air taxi company has publicly performed as many flights in cities around the world, with full regulatory approval, as Volocopter has.
“Our VoloCity is the fifth generation of Volocopter aircraft and has a strong path to being the first certified electric air taxi for cities. Volocopter already has the extensive partnerships necessary to set up the UAM ecosystem for launching both our company and the industry into commercial operations. We are called the pioneers of UAM for a reason, and we plan to keep that title.”
Volocopter believe they offer a holistic approach to the UAM market by developing a full ecosystem to connect all the vital parts to get the industry off the ground. This includes multipurpose aircraft (VoloCity and VoloDrone), and physical and digital infrastructure (VoloPort and VoloIQ), as well as partnerships with global leaders in their respective fields.
Rene Griemens, CFO of Volocopter, said: “We are thrilled to welcome investors who share our belief that innovative technology like our Volocopter is one of the key enablers for a sustainable future.
“Our shareholder structure remains well balanced with a healthy mix of strategic and financial partners spread as globally as our business ambitions.”
New investors in Volocopter include funds managed by BlackRock, global infrastructure company Atlantia S.p.A., Avala Capital, mobility technology giant Continental AG, global technology focused investment fund Jericho Capital, global technology and business solutions provider NTT via its venture capital arm, Tokyo Century, a leading Japanese leasing company, leading family offices, and others. All existing investors, including Geely, Daimler, DB Schenker, Intel Capital, btov Partners, Team Europe, and Klocke Holding amongst others also joined the round.
Volocopter has performed several milestone flights in Helsinki, Stuttgart, Dubai, and over Singapore’s Marina Bay in recent years. While the first routes are yet to be announced, the company has committed to establishing air taxi services in Singapore and Paris, with plans to expand many more routes in the US, Asia, and Europe.
