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Volocopter Raises $170M in First Signing of Collection E Financing Spherical
by DRONELIFE Workers Author Ian M. Crosby
City air mobility pioneer Volocopter has secured USD 170 million within the preliminary signing of its Collection E funding spherical, with a pre-money valuation of USD 1.7 billion. Led by South Korean investor WP Funding, the spherical was composed of funds by new and current traders. The funding obtained will assist the certification of Volocopter’s electrical passenger air taxi and is projected to help Volocopter in launching commercially in first cities worldwide. The elevate follows final 12 months’s $200 million Collection D spherical.
Volocopter is creating new and sustainable mobility choices, creating its household of plane (the VoloCity, VoloConnect, and VoloDrone) as a holistic ecosystem. An business chief with ten years of improvement expertise, 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 has pledged to launch industrial air taxi providers in cities similar to Singapore, Rome, and Paris.
Volocopter Raises Funding to Proceed Main Place in UAM
“This funding spherical is a testomony to Volocopter’s main place in what’s a extremely enticing rising market,” mentioned Volocopter CEO Florian Reuter. “We proceed to make important technical and industrial progress as we work towards bringing city air mobility to life at scale in cities worldwide.”
“Volocopter has spectacular traders from across the globe, which places us in a wonderful place to concentrate on our first-to-certification and first-to-market methods earlier than we embark on the trail to public itemizing,” famous CCO Christian Bauer. “I’m excited to speed up our path to industrial launch along with traders, companions, and the outstanding Volocopter group!”
Primarily based in Seoul, spherical chief WP Funding is a brand new investor for Volocopter. The 2 corporations are set to enter right into a strategic partnership with the creation of a three way partnership that may quickly convey city air mobility to cities in South Korea.
“We’re assured that Volocopter will probably be among the many first to convey UAM to cities globally, since seeing its plane fly in Seoul final 12 months,” mentioned WP Funding Chairman Dr. Lei Wang. “As a frontrunner in ESG funding, we’re excited to empower metropolis sustainability by means of Volocopter.”
“We’re excited to kick off our three way partnership and be the primary to ascertain sustainable eVTOL logistics and air taxi providers with Volocopter in Korea,” added Co-Chairman Tiffany Park.
Alongside new traders like WP Funding and Honeywell, many current traders, similar to 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 capability to quickly convey to life this progressive and sustainable mobility,” mentioned Elisabetta De Bernardi, Funding Director Europe for Atlantia. “We’ll proceed to advertise city air mobility, a fast-growing enterprise that may assist scale back emissions and visitors in giant cities.”
“Our profitable first signing of Collection 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 convey sustainable city air mobility to life,” mentioned Chairman of Volocopter’s Advisory Board Stefan Klocke. “We now have 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 robust joint-ventures the world over.”
Volocopter lately introduced a financing settlement with Aviation Capital Group (ACG) to form the sale and leasing of Volocopter plane for as much as USD 1 billion. Upon buying certification, this settlement will allow the corporate to offer its working entities and clients with enticing leasing choices, a key to quickly scaling the enterprise sooner or later.
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 know-how, he’s now contributing to DroneLife as a workers author.
Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, an expert drone providers market, and a fascinated observer of the rising drone business and the regulatory surroundings for drones. Miriam has penned over 3,000 articles targeted on the industrial drone house and is a world speaker and acknowledged determine within the business. Miriam has a level from the College of Chicago and over 20 years of expertise in excessive tech gross sales and advertising for brand spanking new applied sciences.
For drone business consulting or writing, Electronic mail Miriam.
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