Tue, Mar 15, 2022
Series E Brings in 170 Million for eVTOL Manufacturer
Volocopter has completed their series E funding round in an effort with South Korean investor WP Investment, at a pre-money valuation of $1.7 billion.
The company says it will help expand its sustainable urban air mobility efforts through its sub-brands VoloCity, VoloConnect, and VoloDrone. Volocopter drew a considerable measure of attention from the investment scene as the only eVTOL manufacturer that holds an EASA Design Organisation Approval, putting them just ahead of the pack of similar competing manufacturers.
When asked about their rationale in supporting VoloCopter, WP investment chairman Lei Want said the company was an attractive ESG pick to boost their green bonafides.
“We are confident that Volocopter will be among the first to bring UAM to cities globally, since seeing its aircraft fly in Seoul last year. As a leader in ESG investment, we are excited to empower city sustainability through Volocopter,” said Wang. Volo is happy to bring more aboard, too, as they continue to build a foundation for their intended domination of the eVTOL category as soon as they can. Recent moves saw the company enter into a financing agreement with Aviation Capital Group to shape the eventual sale and leasing of their aircraft for up to $1 billion. Once certification is complete, they will be able to offer leases to customers around the world.
“Our successful first signing of Series E brings phenomenal new investors on board, with further in the due diligence stage. This private funding round allows us to stay focused on our mission to bring sustainable urban air mobility to life,” said Stefan Klocke of Volocopter’s advisory board. “We have never been in a stronger position: we are financially diversified, certification of the aircraft is within reach, and we are demonstrating our advanced capabilities by public flights and strong joint-ventures across the world.”
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