Led by South Korea’s WP Investments, Volocopter’s Series E Financing Round raised USD 170 million. Including other investors such as Atlantia, Honeywell, and Whysol, the total amount of funds raised was USD 579 million. As such, the company is valued at US$1.7 billion.
“This funding round is a testament to Volocopter’s leading position in what is a highly attractive emerging market. We continue to make significant and commercial progress as we work toward bringing urban air mobility to life at scale in cities worldwide,” states Florian Reuter, CEO of Volocopter.
Volocopter plans to partner with WP Investments to launch urban air mobility (UAM) in South Korea.
This comes after Volocopter has signed a Memorandum of Understanding (MOU) with Seletar Aerospace Park to support advanced air mobility (AAM) growth, in addition to obtaining USD 1 billion from ACG for its electric vertical take-off and landing (eVTOL) aircraft fleet.
You can read more about Volocopter in Asian Sky Media’s newly released 2021 Asia-Pacific UAM Report.
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