Volocopter raises new capital in funding round

(chinadaily.com.cn) Updated : 2019-09-10


Volocopter 2X, an aerial taxi which can carry two people, is seen in a rendering. The unmanned aerial vehicle's net weight is about 260 kilograms and its maximum load capacity is about 160 kg. [Photo/VCG]

Geely Holding's participation highlights the strategic cooperation potential with Volocopter. The companies have agreed to enter into a joint venture to bring Urban Air Mobility to the Chinese market.

Li Shufu, Geely Holding chairman, said: "Geely is transitioning from being an automotive manufacturer to a mobility technology group, investing in and developing a wide range of next-generation technologies. Our latest cooperation with Daimler, building on our partnership in smart and premium ride-hailing services, as well as our joint venture with Volocopter, underlines our confidence in Volocopter air taxis as the next ambitious step in our wider expansion in both electrification and new mobility services."

Ola Källenius, chairman of the Board of Management of Daimler AG, said: "We are delighted to see our partners at Geely investing in Volocopter and becoming shareholders, as we have since 2017. Daimler is committed to supporting innovative new mobility services. One exciting example is Volocopter and the idea of urban air transport."

Volocopter anticipates a second Series C closing toward the end of the year. The company is in advanced discussions with strategic and financial investors for this, and remains open to new investors. Volocopter will put the funds toward receiving commercial certification by the European Aviation Safety Authority for their VoloCity aircraft.

Just recently Volocopter presented the design for VoloCity, its new air taxi being created according to specifications put forward by EASA.

Volocopter performed a piloted flight integrated in Helsinki International Airport's air traffic management system in late August, thus proving the compatibility of air taxis with existing air traffic management solutions. Later this year the Urban Air Mobility pioneer will present its VoloPort air taxi landing infrastructure at the ITS WC from Oct 22 to 25, 2019 in Singapore.

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