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- Korean WP Funding leads funding spherical, adopted by Atlantia and Honeywell, amongst others
- Pre-money valuation at USD 1.7 billion, whole funds raised at USD 579 million
- Funding for use for certification and business launch in first cities
- Three way partnership time period sheet signed with WP Funding for air taxi operations in South Korea
Bruchsal, Germany, 4 March 2022 – Volocopter, the pioneer of city air mobility, has raised USD 170 million within the preliminary signing of its Sequence E funding spherical led by South Korean investor WP Funding, at a pre-money valuation of USD 1.7 billion. Composed of funds by new and present traders, the cash raised will help with the certification of Volocopter’s electrical passenger air taxi and is predicted to assist Volocopter obtain business launch in first cities worldwide.
Volocopter is growing new and sustainable mobility choices for cities all over the world. With its household of plane (the VoloCity, VoloConnect, and VoloDrone), the corporate takes a novel method by growing city air mobility (UAM) as a holistic ecosystem. Having ten years of growth expertise, Volocopter is the clear chief within the city air mobility house. As 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), Volocopter has dedicated to launching business air taxi providers in cities like Singapore, Rome, and Paris.
“This funding spherical is a testomony to Volocopter’s main place in what’s a extremely enticing rising market. We proceed to make important technical and business progress as we work towards bringing city air mobility to life at scale in cities worldwide,” mentioned Florian Reuter, CEO of Volocopter.
Christian Bauer, CCO of Volocopter, mentioned: “Volocopter has spectacular traders from across the globe, which places us in a superb place to concentrate on our first-to-certification and first-to-market methods earlier than we embark on the trail to public itemizing. I’m excited to speed up our path to business launch along with traders, companions, and the exceptional Volocopter workforce!”
WP Funding based mostly in Seoul, Republic of Korea, is a number one and new investor for Volocopter on this funding spherical. Following this announcement, Volocopter and WP Funding will enter right into a strategic partnership by making a three way partnership that can quickly carry city air mobility to South Korea’s cities.
“We’re assured that Volocopter will probably be among the many first to carry UAM to cities globally, since seeing its plane fly in Seoul final yr. As a frontrunner in ESG funding, we’re excited to empower metropolis sustainability by Volocopter,” says Dr. Lei Wang, Chairman of WP Funding. Co-Chairman Tiffany Park mentioned: “We’re excited to kick off our three way partnership and be the primary to determine sustainable eVTOL logistics and air taxi providers with Volocopter in Korea.”
New traders in Volocopter embrace WP Funding and Honeywell, amongst others. Many present traders together with Atlantia, Whysol, and btov Companions, have additionally elevated their funding on this spherical.
“We determined to strengthen our funding in Volocopter as a result of we strongly imagine in its potential to quickly carry to life this modern and sustainable mobility,” mentioned Elisabetta De Bernardi, Funding Director Europe for Atlantia. “We are going to proceed to advertise city air mobility, a fast-growing enterprise that may assist scale back emissions and site visitors in giant cities.”
“Our profitable first signing of Sequence E brings phenomenal new traders on board, with additional within the due diligence stage. This personal funding spherical permits us to remain targeted on our mission to carry sustainable city air mobility to life,” mentioned Stefan Klocke, Chairman of Volocopter’s Advisory Board. “We’ve by no means been in a stronger place: we’re financially diversified, certification of the plane is inside attain, and we’re demonstrating our superior capabilities by public flights and powerful joint-ventures the world over.”
The corporate just lately introduced that it has entered a financing settlement in precept with Aviation Capital Group (ACG) to form the sale and leasing of Volocopter plane for as much as USD 1 billion. As soon as plane certification has been achieved, this settlement will enable Volocopter to supply its working entities and clients worldwide enticing leasing choices, a key to quickly scaling the enterprise sooner or later. About Volocopter
Volocopter brings city air mobility (UAM) to megacities worldwide. We intention to enhance the standard of life for folks in cities by providing a improbable new mode of transportation. For that, we create sustainable and scalable UAM ecosystems with companions in infrastructure and operations.
Volocopter’s household of eVTOL plane will supply passengers (VoloCity and VoloConnect) and items (VoloDrone) swift, safe, and emission-free connections to their locations, supported by VoloIQ, the UAM ecosystem’s software program platform that serves as its digital spine for protected and environment friendly operations.
As a pioneer within the UAM business, Volocopter will launch business providers throughout the subsequent few years. Based in 2011, the corporate employs greater than 500 folks in Germany and Singapore, has accomplished over 1,000 profitable private and non-private take a look at flights, and raised $579 million in fairness from traders, together with Geely, WP Funding, Mercedes-Benz Group, Intel Capital, and BlackRock. www.volocopter.com
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