Volocopter Gets Two More Investors to Come Aboard, Raises an Additional $182M in Funding

Volocopter VoloCity air taxi 6 photos
Photo: Volocopter
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Despite the tense economic climate manifested globally, German eVTOL (electric vertical take-off and landing) developer Volocopter managed to raise more money in funding, staying focused on its goal of launching its multipurpose electric aircraft.
Volocopter just announced that it managed to raise an additional $182 million in the second signing of its Series E funding round. The new investors to come aboard are Red Sea’s NEOM smart, cognitive region project, and GLy Capital Management in Hong Kong.

Commenting on its latest financial success, Volocopter’s CEO, Dirk Hoke, stated that attracting the two new investors is of significant importance and highlights the company’s “pole position in the commercial certification race,” which is a key requirement to launching operations and starting to generate revenue.

NEOM and Volocopter started their collaboration last December, with their common goal being to integrate Volocopter’s Volocity air taxi and the VoloDrone into NEOM’s smart and seamlessly connected mobility systems. The partnership with Geely Holding (the owner of GLy) goes even further back, with its purpose being to bring UAM (urban air mobility) to China, which is expected to become one of the largest markets for electric air taxis, according to Volocopter.

The German eVTOL developer boasts of being the first such company to receive DOA (Design Organization Approval) from the EASA (European Union Aviation Safety Agency). Volocopter is working on a suite of fully electric aircraft specifically designed for urban applications. Its eVTOLs will be able to transport both passengers and goods, in a convenient and environmentally responsible manner.

Volocopter’s three types of aircraft are the VoloCity short-range air taxi, the VoloRegion long-range aircraft, and the VoloDrone heavy-duty utility drone. The first one is an electric two-seater that can reach a top speed of 110 kph (68 mph) and offers ranges of 35 km (21 miles) per charge. The VoloRegion boosts that range to 100 km (62 miles) per range, the capacity to four people, and the top speed to 250 kph (155 mph). As for the VoloDrone, it is a heavy-lift solution boasting a payload capacity of 200 kg (441 lb) and a range of 40 km (approximately 25 miles).

The German eVTOL developer hopes to launch its first commercial air taxi routes in the next two years, with the first locations in mind being Singapore, Rome, Paris, and the NEOM region.
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About the author: Cristina Mircea
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Cristina’s always found writing more comfortable to do than speaking, which is why she chose print over broadcast media in college. When she’s not typing, she also loves riding non-motorized two-wheelers, going on hikes with her dog, and rocking her electric guitars.
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