The products from Volocopter mobility include the VoloCity, VoloConnect, and VoloDrone, all of which provide easy access to move at a short-range, typically within a city.
Volocopter, a German aircraft manufacturer and pioneer in the air mobility space has successfully raised the sum of $170 million in a Series E funding round at a pre-money valuation of $1.7 billion As announced by the company, this latest round was led by South Korea’s WP Investments, and also featured a couple of both old and new investors alike.
“This funding round is a testament to Volocopter’s leading position in what is a highly attractive emerging market. We continue to make significant technical and commercial progress as we work toward bringing urban air mobility to life at scale in cities worldwide,” said Florian Reuter, CEO of Volocopter.
Volocopter was founded in 2011 by Alexander Zosel and Stephan Wolf with the vision to help achieve sustainable mobility through air taxi innovations. For more than a decade, the company has been developing new and sustainable mobility options for cities around the world. With this new funding, it hopes to start commercializing these solutions while also expanding to new markets around the world.
However, the company’s most pressing agenda is to secure licenses to operate its air taxi business in various cities beyond Europe. Since its inception, the company remains amongst the few in the space to have secured the Design Organization Approval (DOA) from the European Union Aviation Safety Agency (EASA), the startup has a clear mission statement to proliferate commercial air taxi services in cities like Singapore, Rome, and Paris. With its new crop of investors, the company will be able to extend its reach across the globe.
“Volocopter has spectacular investors from around the globe, which puts us in an excellent position to focus on our first-to-certification and first-to-market strategies before we embark on the path to public listing. I’m excited to accelerate our path to commercial launch together with investors, partners, and the phenomenal Volocopter team!” said Christian Bauer, CCO of Volocopter.
Volocopter Attracts Money in Funding Rouns as It Offers an Uncommon Innovation for Urban Transport
It is not uncommon to have highly congested urban cities around the world. While many innovators around the world have been trying to find a lasting solution to urban car traffic, only a few, like Volocopter have managed to make headway.
The products from Volocopter mobility include the VoloCity, VoloConnect, and VoloDrone, all of which provide easy access to move at a short-range, typically within a city. The majority of these products from Volocopter are based on an electric powering system and it certainly has the capacity to fly within the limited miles of a relatively big city.
Both Volocopter and WP Investments will form a joint partnership that will see the start-up’s flying cars being launched in South Korea.
“We are confident that Volocopter will be among the first to bring UAM to cities globally, since seeing its aircraft fly in Seoul last year. As a leader in ESG investment, we are excited to empower city sustainability through Volocopter,” says Dr. Lei Wang, Chairman of WP Investment. Co-Chairman Tiffany Park said: “We are excited to kick off our joint venture and be the first to establish sustainable eVTOL logistics and air taxi services with Volocopter in Korea.”
Prior to this time, Volocopter has raised money through a series of funding one of which is the $55 million it raised back in September 2019 while it was seeking approvals to launch some of its earliest products.