Volocopter has raised $579 million to support its project in pursuit of an advanced air mobility solution. [Courtesy: Volocopter]
Key Takeaways:
Volocopter raised $170 million in its Series E funding round, valuing the eVTOL developer at $1.7 billion and bringing its total capital to $579 million.
Led by South Korean firm WP Investment, the new funding will primarily be used to certify Volocopter's electric air taxis (VoloCity, VoloConnect, VoloDrone) and launch commercial services globally.
A strategic partnership with WP Investment will also focus on implementing Volocopter's advanced air mobility ecosystem in South Korea.
Volocopter holds a unique advantage as the only eVTOL company with Design Organisation Approval (DOA) from the European Union Aviation Safety Agency (EASA).
Electric vertical takeoff and landing (eVTOL) developer Volocopter announced Friday that it has raised $170 million to launch its Series E funding round, valuing the company at $1.7 billion.
So far, the company has raised $579 million to support its project in pursuit of an advanced air mobility solution.
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Michael Wildes holds a master’s degree in Logistics & Supply Chain Management, and a bachelor’s degree in Aeronautical Science, both from Embry-Riddle Aeronautical University. Previously, he worked at the university’s flight department as a Flight Check Airman, Assistant Training Manager, and Quality Assurance Mentor. He holds MEI, CFI & CFII ratings. Follow Michael on Twitter @Captainwildes.
