Volocopter has announced that it has raised an additional $182 million in the second signing of its Series E funding round. NEOM, the Red Sea’s smart, cognitive region project, and GLy Capital Management of Hong Kong have joined Volocopter’s diverse investor base.
Volocopter aims to tackle the challenge of sustainable mobility by offering a suite of fully electric aircraft built specifically for urban missions.
The company has said that Volocopter’s unique and holistic UAM ecosystem approach connects all key global market players as it strives to get the industry off the ground. This is said to include developing multipurpose electric aircraft to bring passengers and goods safely to their destination and enabling physical and digital infrastructure to match.
“Attracting NEOM And GLy as investors is a great success and highlights our pole position in the commercial certification race. This is the key requirement to launching commercial operations and starting to generate revenue.” said Dirk Hoke, CEO, Volocopter.
Volovopter has ten years of developmental experience and is a UAM leader and has around 1,500 successful test flights under its belt. Earlier in December 2021, Volocopter and NEOM signed a joint venture, becoming a strategic partner with a view to ingrate the VoloCity air taxi and the VoloDrone into NOEM’s sustainable, smart and seamlessly connected mobility systems.
“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.” said Christian Bauer, CCO of Volocopter.
GLy is backed by Geely Holding, a long-term partner of Volocopter. Through their joint venture, Geely and Volocopter aim to bring UAM to China.
“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.” said Hrvoje Krkalo, Co-CEO of GLy Capital.