Air taxi startup Volocopter raises $170 million in a new financing round. The company says the funds will help the certification of its electric passenger air taxi and the commercial launch worldwide
Volocopter said the total funds it had raised jumped to $579 million and its pre-money valuation was at $1.7 billion.A test flight of the "Volocopter 2X" drone taxi during an Urban Air Mobility Airport Demo event at Gimpo Airport in Seoul, South Korea, November 11, 2021. REUTERS/Heo Ran/FilesThe company said the funds raised in the series E financing round will help the certification of its electric passenger air taxi and the commercial launch worldwide.
Volocopter said new investors include Korea's WP Investment and Honeywell, adding that existing investors including Atlantia, Whysol and btov Partners also increased their investment in this round.Reporting by Nadine Schimroszik Writing by Riham Alkousaa Editing by Miranda MurraySign up to our tech newsletter to get the latest news and trends in the global technology industry.