Volocopter Funding $182 Million Sequence E

Volocopter Raises $182M in Second Signing of Sequence E Funding Spherical

by DRONELIFE Employees Author Ian M. Crosby

City air mobility (UAM) chief Volocopter has closed an extra USD 182 million in funding within the second signing of its Sequence E spherical, which noticed participation from new buyers NEOM and GLy Capital Administration.

With its UAM ecosystem, Volocopter affords a completely electrical answer made particularly for city missions, ferrying items and passengers with its multipurpose electrical plane (the VoloCity, VoloRegion, and VoloDrone), and offering the required bodily and digital infrastructure (the VoloPort and VoloIQ).

“Attracting NEOM And GLy as buyers is a good success and highlights our pole place within the industrial certification race,” mentioned Volocopter CEO Dirk Hoke. “That is the important thing requirement to launching industrial operations and beginning to generate income.”

Volocopter is the primary and solely electrical vertical takeoff and touchdown (eVTOL) firm to obtain Design Organisation Approval (DOA) from the European Union Aviation Security Company (EASA). The corporate’s first industrial air taxi routes are anticipated to launch throughout the subsequent two years in areas resembling Singapore, Rome, Paris, and the NEOM area.

“Elevating over USD 180 million regardless of the commonly tense financial local weather highlights Volocopter’s strong expertise technique and its ongoing progress towards reaching market readiness,” mentioned Volocopter CCO Christian Bauer. “We recognize the exceptional spirit of collaboration and the belief that our current and new shareholders have positioned in us as we forge forward on our journey to deliver the city air mobility ecosystem to life.”

Signing a three way partnership final December, Volocopter and NEOM search to combine the VoloCity air taxi and the VoloDrone into NEOM’s mobility methods. The three way partnership will handle the area’s all-electric public flight routes for the primary seven years following the launch.

“At Neom we strongly consider within the potential for city air mobility to offer a brand new dimension to future built-in transport methods. Constructing on our profitable collaboration with Volocopter, we’re excited to strengthen our partnership and to make a strategic funding in the way forward for mobility,” mentioned Florian Lennert, Head of Mobility of NEOM. “We consider Volocopter is the most effective associate to construct a complicated air mobility ecosystem in Neom. We sit up for realising this thrilling mission collectively with Volocopter and its international companions.”

GLy is backed by Volocopter associate Geely Holding. Of their three way partnership, the companions intend to deliver UAM to China, which is anticipated to develop into one of many largest markets for electrical air taxis.

“Volocopter’s imaginative and prescient encompasses industrial short- and medium-range industrial passenger purposes to deliver effectivity to the best way we transfer round our cities,” mentioned GLy Capital Co-CEO Hrvoje Krkalo. “I sit up for supporting their journey; a journey that guarantees to be thrilling, protected, and scenic in equal measure.”

Learn extra about Volocopter:

Ian attended Dominican College of California, the place he acquired a BA in English in 2019. With a lifelong ardour for writing and storytelling and a eager curiosity in expertise, he’s now contributing to DroneLife as a workers author.