Bruchsal, Germany-based urban air mobility (UAM) company, Volocopter, raised an additional USD 182 million in recent financing. The second signing of the Series E round took place on November 1, 2022. NEOM – the Red Sea’s smart, cognitive region project – and GLy Capital Management of Hong Kong participated in the funding.
Purpose of financing for Volocopter
The recent financing from the Series E round enables Volocopter to carry the company beyond the certification of its electric passenger aircraft, the VoloCity air taxi.
Further, Volocopter expects to launch its first commercial air taxi routes in megacities such as Singapore, Rome, Paris, and the NEOM region in the next two years.
What the company’s official has to say
Christian Bauer, CCO of Volocopter, said, “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.”
What the investors have to add
Florian Lennert, Head of Mobility of NEOM, said, “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.”
In addition, Hrvoje Krkalo, co-CEO of GLy Capital, said, 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.”
About the company
Founders Alexander Zosel and Stephan Wolf launched the company in 2011. Volocopter offers a suite of fully electric aircraft for urban missions. Volocopter is a UAM leader with more than ten years of experience and upward of 1,500 test flights. Earlier in December 2021, Volocopter and NEOM signed a joint venture (JV) company, becoming strategic partners. The purpose is to integrate the VoloCity and the VoloDrone into NEOM’s sustainable and smart mobility systems. The JV will design, integrate, and operate all-electric public flight routes for the initial seven years. Besides, Geely Holding backs Gly capital. Geely and Volocopter aim to bring UAM to China.
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