Urban Air Mobility startup Volocopter raises $240 Million

Volocopter, an electric battery-powered air taxi provider, has raised $240 Million in a Series D funding round.

Germany headquartered Volocopter is an urban air Mobility provider and offers electric air taxis. To date, the company has raised a total of €368.2 million in funding over six funding rounds, according to CrunchBase. 

The company's electric air taxi Volocity would be the first commercially licensed Volocopter, meeting the standard requirements of the European Aviation Safety Agency (EASA), according to the Volocopter website.

CEO of Volocopter, Florian Reuter, 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."

CFO of Volocopter, Rene Griemens, 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."

The latest funding round witnessed investments from funds managed by BlackRock, Avala Capital, Atlantia S.p.A., Continental AG, NTT, and Tokyo Century. Existing investors Geely, Daimler, DB Schenker, Intel Capital, btov Partners, Team Europe, and Klocke Holding also participated in the funding round.

The company intends to start air taxi services in Singapore and Paris. Also, there are plans for further expansion in the US, Asia, and Europe.

The newly raised funds will be used to enhance Volocopter’s position in the UAM (Urban Air Mobility) market. The company intends to bring its battery-powered air taxi VoloCity to certification and accelerate the launch of the first commercial routes, notes the announcement.