Volocopter receives 170 million US dollars

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

Flight cab start-up Volocopter today announced the closing of its Series E financing round. 170 million US dollars was raised by the young company from Bruchsal near Karlsruhe. This brings the startup's pre-money valuation to $1.7 billion.

The round was led by South Korean financier WP Investment, and existing investors also participated. The startup plans to use the money to certify its electric air cab, leading to its commercial launch in early cities worldwide. "We continue to make significant technical and commercial progress towards bringing urban air mobility to life at scale in cities around the world," says Florian Reuter, CEO of Volocopter.

Founded in 2011, the start-up has now developed a whole range of flying machines. With the VoloCity, the VoloConnect and the VoloDrone, it aims to cover the topic of urban air mobility (UAM) holistically. It sees itself as a clear market leader. "We are confident that Volocopter will be among the first to bring UAM to cities worldwide after seeing it 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."