Sunday, November 27, 2022
HomeDroneVolocopter Raises USD 170 million in first signing of Sequence E financing...

Volocopter Raises USD 170 million in first signing of Sequence E financing spherical   – sUAS Information


  • 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 current buyers, 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 creating 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 strategy by creating city air mobility (UAM) as a holistic ecosystem. Having ten years of improvement expertise, Volocopter is the clear chief within the city air mobility area. 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 companies in cities like Singapore, Rome, and Paris. 

“This funding spherical is a testomony to Volocopter’s main place in what’s a extremely engaging rising market. We proceed to make vital technical and business progress as we work towards bringing city air mobility to life at scale in cities worldwide,” stated Florian Reuter, CEO of Volocopter.  

Christian Bauer, CCO of Volocopter, stated: “Volocopter has spectacular buyers from across the globe, which places us in a superb place to deal with 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 buyers, companions, and the outstanding Volocopter workforce!” 

WP Funding primarily based 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 deliver city air mobility to South Korea’s cities.  

“We’re assured that Volocopter will likely be among the many first to deliver UAM to cities globally, since seeing its plane fly in Seoul final 12 months. As a pacesetter in ESG funding, we’re excited to empower metropolis sustainability via Volocopter,” says Dr. Lei Wang, Chairman of WP FundingCo-Chairman Tiffany Park stated: “We’re excited to kick off our three way partnership and be the primary to ascertain sustainable eVTOL logistics and air taxi companies with Volocopter in Korea.” 

New buyers in Volocopter embrace WP Funding and Honeywell, amongst others. Many current buyers 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 consider in its potential to quickly deliver to life this modern and sustainable mobility,” stated 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 visitors in massive cities.” 

“Our profitable first signing of Sequence E brings phenomenal new buyers on board, with additional within the due diligence stage. This personal funding spherical permits us to remain centered on our mission to deliver sustainable city air mobility to life,” stated Stefan Klocke, Chairman of Volocopter’s Advisory Board. “We’ve got 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.” 

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 permit Volocopter to supply its working entities and clients worldwide engaging 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 implausible 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 companies inside 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 buyers, together with Geely, WP Funding, Mercedes-Benz Group, Intel Capital, and BlackRock. www.volocopter.com

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments