- Korean WP Investment leads funding round, followed by Atlantia and Honeywell, amongst others
- Pre-money valuation at USD 1.7 billion, total funds raised at USD 579 million
- Funding to be used for certification and commercial launch in first cities
- Joint venture term sheet signed with WP Investment for air taxi operations in South Korea
Bruchsal, Germany, 4 March 2022 – Volocopter, the pioneer of urban air mobility, has raised USD 170 million in the initial signing of its Series E funding round led by South Korean investor WP Investment, at a pre-money valuation of USD 1.7 billion. Composed of funds by new and existing investors, the money raised will assist with the certification of Volocopter’s electric passenger air taxi and is expected to help Volocopter achieve commercial launch in first cities worldwide.
Volocopter is developing new and sustainable mobility options for cities around the world. With its family of aircraft (the VoloCity, VoloConnect, and VoloDrone), the company takes a unique approach by developing urban air mobility (UAM) as a holistic ecosystem. Having ten years of development experience, Volocopter is the clear leader in the urban air mobility space. As 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), Volocopter has committed to launching commercial air taxi services in cities like Singapore, Rome, and Paris.
“This funding round is a testament to Volocopter’s leading position in what is a highly attractive emerging market. We continue to make significant technical and commercial progress as we work toward bringing urban air mobility to life at scale in cities worldwide,” said Florian Reuter, CEO of Volocopter.
Christian Bauer, CCO of Volocopter, said: “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. I’m excited to accelerate our path to commercial launch together with investors, partners, and the phenomenal Volocopter team!”
WP Investment based in Seoul, Republic of Korea, is a leading and new investor for Volocopter in this funding round. Following this announcement, Volocopter and WP Investment will enter into a strategic partnership by creating a joint venture that will soon bring urban air mobility to South Korea’s cities.