Volocopter Raises €200 Million in Series D Funding Round
Volocopter, the pioneer of urban air mobility (UAM), announced the signing of their Series D funding round today, raising €200 million in additional capital. Cumulatively, Volocopter has raised €322 million. The funding will be used to solidify Volocopter’s leading 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.
Sustainable mobility options
Volocopter is 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 a leader 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.
“Volocopter is ahead of the curve in the UAM industry, and we have the achievements to prove it,” says Florian Reuter, CEO of Volocopter. “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 offers 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.
“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,” says Rene Griemens, CFO of Volocopter. “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.
Volocopter is building the world’s first sustainable and scalable urban air mobility business to bring affordable air taxi services to megacities worldwide. With the VoloCity, the company is developing the first fully electric “eVTOL” aircraft in certification to transport passengers safely and quietly within cities. Volocopter leads and cooperates with partners in infrastructure, operations, and air traffic management to build the ecosystem necessary to ‘Bring Urban Air Mobility to Life’.
In 2011, Volocopter performed the first-ever crewed flight of a purely electric multicopter and has since showcased numerous public flights with its full-scale aircraft. The most notable have been the public test flights at Singapore’s Marina Bay in October 2019 and the world’s first autonomous eVTOL flight in Dubai 2017. Volocopter is also developing products for the logistics space with their heavy-lift cargo variant, the VoloDrone.
Founded in 2011 by Stephan Wolf and Alexander Zosel, Volocopter has 300 employees in offices in Bruchsal, Munich, and Singapore. The company is managed by CEO Florian Reuter, CTO Dr. Arnaud Coville, CFO Rene Griemens, and CCO Christian Bauer, chaired by Stefan Klocke and has raised a total of €322 million in equity. Volocopter‘s investors include Daimler, Geely, DB Schenker, BlackRock, and Intel Capital amongst others.
Find out more at: www.volocopter.com