BRUCHSAL, Germany, March 4, 2022 /PRNewswire/ — Volocopter, the pioneer in urban air mobility, raised $170m in its initial Series E funding round led by South Korean investor WP Investment, at a pre-money valuation of 1.7 billion dollars. Comprised of funds from new and existing investors, the money raised will assist in the certification of Volocopter’s electric passenger air taxi and is expected to help Volocopter achieve its commercial launch in the world’s premier cities.
Volocopter develops new sustainable mobility options for cities around the world. With its family of aircraft (VoloCity, VoloConnect and VoloDrone), the company takes a unique approach in developing urban air mobility (UAM) as a holistic ecosystem. With ten years of development experience, Volocopter is the undisputed leader in the field of urban air mobility. As the first and only electric vertical take-off and landing (eVTOL) company to receive Design Organization Approval (DOA) from the European Union Aviation Safety Agency (EASA), Volocopter s is committed to launching commercial air taxi services in cities such as Singapore, Rome and Paris.
“This funding round demonstrates Volocopter’s leadership position in what is a very attractive emerging market. We continue to make significant technical and business progress as we work to bring large-scale urban air mobility to life in cities around the world,” said Florian Reuter, CEO of Volocopter.
Christian Bauer, CCO of Volocopter, said, “Volocopter has spectacular investors from around the world, which puts us in an excellent position to focus on our first-to-certify and first-to-market strategies before embarking on the path to public listing. I’m excited to accelerate our path to commercial launch with investors, partners and the phenomenal Volocopter team!”
WP Investment, based in Seoul, Republic of Korea, is a new leading investor for Volocopter in this funding round. Following this announcement, Volocopter and WP Investment will enter into a strategic partnership by creating a joint venture that will soon bring urban air mobility to cities in South Korea.
“We are confident that Volocopter will be among the first to bring UAM to cities around the world, since its planes flew in Seoul last year. As a leader in ESG investing, we are excited to strengthen the sustainability of cities thanks to Volocopter,” said Dr. Lei Wang, Chairman of WP Investment. Co-Chair Tiffany Park said, “We are excited to launch our joint venture and be the first to establish sustainable eVTOL and air taxi logistics services with Volocopter in Korea.”
New investors in Volocopter include WP Investment and Honeywell, among others. Many existing investors, including Atlantia, Whysol and btov Partners, also reinvested in this round.
“We have decided to strengthen our investment in Volocopter because we strongly believe in its ability to quickly bring this innovative and sustainable mobility to life,” said Elisabetta De Bernardi, Director of European Investments for Atlantia. “We will continue to promote urban air mobility, a growing business that can help reduce emissions and traffic in major cities.”
“Our first successful Series E signing brings phenomenal new investors on board, with more due diligence. This private funding round keeps us focused on our mission of bringing sustainable urban air mobility to life,” said Stefan Klocke, Volocopter Advisory Board Chairman. “We have never been in a stronger position: we are financially diversified, aircraft certification is within reach and we are demonstrating our advanced capabilities through public flights and strong joint ventures around the world.”
The company recently announced that it has entered into a financing agreement in principle with Aviation Capital Group (ACG) to shape the sale and lease of Volocopter aircraft for up to $1 billion. Once the certification of the aircraft is obtained, this agreement will allow Volocopter to offer its operating entities and customers around the world attractive leasing options, a key to rapidly developing the business in the future.
Volocopter brings urban air mobility (UAM) to megacities around the world by creating sustainable and scalable UAM ecosystems with partners in infrastructure and operations. Volocopter’s eVTOL family of aircraft will offer passengers (VoloCity and VoloConnect) and cargo (VoloDrone) fast, secure and emission-free connections to their destinations, supported by VoloIQ, the UAM ecosystem software platform . As a pioneer in the UAM industry, Volocopter will launch commercial services in the next few years. The company employs 500 people in Germany and Singapore and has raised $579 million from investors including Geely, WP Investment, Mercedes-Benz Group, Intel Capital and BlackRock. www.volocopter.com
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SOURCE Volocopter GmbH