BRUCHSAL, Germany, Nov. 1, 2022 /PRNewswire/ — Volocopter, the pioneer of city air mobility (UAM), has raised an extra USD 182 million in the second signing of its Series E funding spherical. NEOM – the Red Sea’s good, cognitive area challenge – and GLy Capital Management of Hong Kong have joined Volocopter’s numerous investor base. This will carry the corporate past the certification of its electrical passenger plane, the VoloCity air taxi.
Sustainable mobility is an amazing problem going through at present’s world. Volocopter affords a collection of totally electrical plane for city missions. Crucially, Volocopter’s holistic UAM ecosystem strategy connects all key world market gamers because it strives to get the business off the bottom. This contains growing multipurpose electrical plane to convey passengers and items safely to their vacation spot (the VoloCity, VoloRegion, and VoloDrone), and enabling the bodily and digital infrastructure to match (the VoloPort and VoloIQ).
“Attracting NEOM And GLy as investors is a great success and highlights our pole position in the commercial certification race. This is the key requirement to launching commercial operations and starting to generate revenue,” mentioned Dirk Hoke, CEO of Volocopter.
Volocopter is a UAM chief, with over ten years of expertise and upward of 1,500 profitable take a look at flights. As the primary and solely electrical vertical takeoff and touchdown (eVTOL) firm to obtain Design Organisation Approval (DOA) from the European Union Aviation Safety Agency (EASA), Volocopter expects to launch its first business air taxi routes in the subsequent two years in megacities like Singapore, Rome, Paris, and the NEOM area.
Christian Bauer, CCO of Volocopter, added: “Raising over USD 180 million despite the generally tense economic climate highlights Volocopter’s robust technology strategy and its ongoing progress toward achieving market readiness. We appreciate the remarkable spirit of collaboration and the trust that our existing and new shareholders have placed in us as we forge ahead on our journey to bring the urban air mobility ecosystem to life.”
Volocopter and NEOM signed a three way partnership (JV) firm in December 2021, turning into strategic companions to combine the VoloCity and the VoloDrone into NEOM’s sustainable and good mobility techniques. The JV will design, combine, and function all-electric public flight routes for the preliminary seven years.
“At Neom we strongly believe in the potential for urban air mobility to provide a new dimension to future integrated transport systems. Building on our successful collaboration with Volocopter, we are excited to strengthen our partnership and to make a strategic investment in the future of mobility. We believe Volocopter is the best partner to build an advanced air mobility ecosystem in Neom. We look forward to realising this exciting mission jointly with Volocopter and its global partners” mentioned Florian Lennert, Head of Mobility of NEOM.
GLy is backed by Geely Holding, and in their three way partnership, Geely and Volocopter goal to convey UAM to China which is predicted to turn out to be one of the most important markets for electrical air taxis.
“Volocopter’s vision encompasses industrial short- and medium-range commercial passenger applications to bring efficiency to the way we move around our cities. I look forward to supporting their journey; a journey that promises to be exciting, safe, and scenic in equal measure,” mentioned Hrvoje Krkalo, co-CEO of GLy Capital.
With many corporations having handed the due diligence part, Volocopter’s Series E funding spherical stays open.
About Volocopter
Volocopter is constructing the world’s first sustainable and scalable city air mobility business to convey inexpensive air taxi providers for items and other people to megacities worldwide. Volocopter leads and cooperates with companions in infrastructure, operations, and air site visitors administration to construct the ecosystem essential to “Bring Urban Air Mobility to Life.” Volocopter has 500 workers in workplaces in Bruchsal, Munich, and Singapore, has accomplished over 1,500 profitable private and non-private take a look at flights, and has numerous buyers, together with Geely, NEOM, Mercedes-Benz Group, Intel Capital, and BlackRock. www.volocopter.com
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