Volocopter Raises $170 Million at $1.87 Billion Valuation

Volocopter is a start-up that designs and develops vertical take-off and landing (VTOL) aircraft. Besides, the company works out a business model for operating them in taxi fleets in urban areas. Volocopter aims to develop a full ecosystem to develop the industry from the beginning.

Among the funding round new investors were Korea’s WP Investment and Honeywell. Existing investors Atlantia, Whysol, and btov Partners also took part in the round. The funding is going to be used to get to launch and also to go public.

Volocopter, Germany, was founded by Alexander Zosel and Stephan Wolf in 2011. The company announced that now three types of aircraft will be in the air fleet – VoloDrone, VoloCity, and VoloConnect. More than 1000 test flights have already been completed. The first autonomous flying car test was in Dubai. In plans, the commercial launch will be in Paris, Rome, Singapore, and Korea. “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. The investors’ list also includes BlackRock, Intel Capital, Mercedes-Benz Group, and Geely.

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