Volocopter Raises $170M in First Signing of Series E Financing Round
by DRONELIFE Staff Writer Ian M. Crosby
Urban air mobility pioneer Volocopter has secured USD 170 million in the initial signing of its Series E funding round, with a pre-money valuation of USD 1.7 billion. Led by South Korean investor WP Investment, the round was composed of funds by new and existing investors. The funding obtained will support the certification of Volocopter’s electric passenger air taxi and is projected to assist Volocopter in launching commercially in first cities worldwide. The raise follows last year’s $200 million Series D round.
Volocopter is creating new and sustainable mobility options, developing its family of aircraft (the VoloCity, VoloConnect, and VoloDrone) as a holistic ecosystem. An industry leader with ten years of development experience, Volocopter is the first and only electric vertical takeoff and landing (eVTOL) company to receive Design Organisation Approval (DOA) from the European Union Aviation Safety Agency (EASA). The company has pledged to launch commercial air taxi services in cities such as Singapore, Rome, and Paris.
Volocopter Raises Funding to Continue Leading Position in UAM
“This funding round is a testament to Volocopter’s leading position in what is a highly attractive emerging market,” said Volocopter CEO Florian Reuter. “We continue to make significant technical and commercial progress as we work toward bringing urban air mobility to life at scale in cities worldwide.”
“Volocopter has spectacular investors from around the globe, which puts us in an excellent position to focus on our first-to-certification and first-to-market strategies before we embark on the path to public listing,” noted CCO Christian Bauer. “I’m excited to accelerate our path to commercial launch together with investors, partners, and the phenomenal Volocopter team!”
Based in Seoul, round leader WP Investment is a new investor for Volocopter. The two companies are set to enter into a strategic partnership with the creation of a joint venture that will soon bring urban air mobility to cities in South Korea.
“We are confident that Volocopter will be among the first to bring UAM to cities globally, since seeing its aircraft fly in Seoul last year,” said WP Investment Chairman Dr. Lei Wang. “As a leader in ESG investment, we are excited to empower city sustainability through Volocopter.”
“We are excited to kick off our joint venture and be the first to establish sustainable eVTOL logistics and air taxi services with Volocopter in Korea,” added Co-Chairman Tiffany Park.
Alongside new investors like WP Investment and Honeywell, many existing investors, such as Atlantia, Whysol, and btov Partners, have also increased their investment in this round.
“We decided to strengthen our investment in Volocopter because we strongly believe in its ability to rapidly bring to life this innovative and sustainable mobility,” said Elisabetta De Bernardi, Investment Director Europe for Atlantia. “We will continue to promote urban air mobility, a fast-growing business that can help reduce emissions and traffic in large cities.”
“Our successful first signing of Series E brings phenomenal new investors on board, with further in the due diligence stage. This private funding round allows us to stay focused on our mission to bring sustainable urban air mobility to life,” said Chairman of Volocopter’s Advisory Board Stefan Klocke. “We have never been in a stronger position: we are financially diversified, certification of the aircraft is within reach, and we are demonstrating our advanced capabilities by public flights and strong joint-ventures across the world.”
Volocopter recently announced a financing agreement with Aviation Capital Group (ACG) to shape the sale and leasing of Volocopter aircraft for up to USD 1 billion. Upon acquiring certification, this agreement will enable the company to provide its operating entities and customers with attractive leasing options, a key to rapidly scaling the business in the future.
Read more about Volocopter:
- Urban Air Mobility Could Generate Billions for Cities Around the World: Volocopter in Singapore
- Urban Air Mobility in Korea: Volocopter Conducts First Crewed Public Air Taxi Flight
- Volocopter’s VoloDrone Takes Flight: Electic, Heavy-Lift Utility Aircraft
- Who Will Pilot the Passenger Drones of Tomorrow? Volocopter and CAE Partner to Train the Air Taxi Workforce
- Volocopter Funding: €200 Million in Series D
Ian attended Dominican University of California, where he received a BA in English in 2019. With a lifelong passion for writing and storytelling and a keen interest in technology, he is now contributing to DroneLife as a staff writer.
Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, a professional drone services marketplace, and a fascinated observer of the emerging drone industry and the regulatory environment for drones. Miriam has penned over 3,000 articles focused on the commercial drone space and is an international speaker and recognized figure in the industry. Miriam has a degree from the University of Chicago and over 20 years of experience in high tech sales and marketing for new technologies.
For drone industry consulting or writing, Email Miriam.
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