Volocopter receives 170 million US dollars

The air cab start-up has thus successfully completed its Series E financing round. The money comes from a South Korean investor, among others.

The air cab start-up Volocopter today announced the completion of its Series E financing round. The young company from Bruchsal near Karlsruhe has raised 170 million US dollars. This brings the start-up to a preliminary valuation of 1.7 billion US dollars.

The round was led by South Korean investor WP Investment, with existing investors also participating. The start-up intends to use the money to certify its electric air cab and achieve a commercial launch in the first cities worldwide. "We continue to make significant technical and commercial progress towards bringing urban air mobility to life on a large scale in cities around the world," says Florian Reuter, CEO of Volocopter.

Founded in 2011, the start-up has since developed a whole range of flying devices. With the VoloCity, the VoloConnect and the VoloDrone, it aims to cover the entire field of urban air mobility (UAM). It sees itself as the clear market leader. "We are confident that Volocopter will be among the first to bring UAM to cities worldwide after seeing the aircraft fly in Seoul last year," says Lei Wang, Chairman of WP Investment. "As a leader in ESG investing, we look forward to working with Volocopter to promote sustainability in cities."