March 3, 2021

Volocopter400x275Germany’s Volocopter, which is developing urban air mobility platforms, announced it has raised €200 million ($241.5 million) in an oversubscribed Series D funding round. The company has now raised more than €322 million ($388 million) in total, giving it extra capital to bring its VoloCity, a battery-powered air taxi for cities, to certification and to launch its initial commercial routes.

The company said it is in the final stages of providing new, sustainable mobility options for cities around the world. Services range from electric, autonomous air taxis for passengers, as well as transporting goods with the company’s VoloDrone. The company has received the Design Organization Approval (DOA) by the European Union Aviation Safety Agency, and it expects to open commercial air taxi routes within the next two years.

“Volocopter is ahead of the curve in the UAM industry, and we have the achievements to prove it,” said Florian Reuter, the 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.”

New investors of the company include funds managed by BlackRock, Avala Capital, Atlantia S.p.A., Continental AG, NTT, and Tokyo Century. All existing investors also joined the Series D round.

"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,” said 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.”

Milestone flights for the company have been performed in Helsinki, Stuttgart, Dubai, and over Singapore’s Marina Bay. While the first routes have not yet been announced, the company said it is committed to establishing air taxi services in Singapore and Paris, with plans to expand to more routes in the U.S., Asia, and Europe.

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