Urban air mobility (UAM) pioneer Volocopter has secured an extra USD 182 million in the second closing of its Series E fundraising round. The varied investor base of Volocopter now includes GLy Capital Management of Hong Kong and NEOM, the Red Sea’s smart, cognitive area project. This will help the business grow beyond the certification of its VoloCity air taxi electric passenger aircraft.

Today’s world is faced with an enormous challenge: sustainable mobility. With a lineup of entirely electric aircraft designed exclusively for urban missions, Volocopter provides a novel option. Importantly, Volocopter’s distinctive and comprehensive UAM ecosystem model unites all significant global market participants as it works to launch the sector. This entails creating versatile electric vehicles (such as the VoloCity, VoloRegion, and VoloDrone) to transport people and cargo securely to their destinations as well as enabling the necessary physical and digital infrastructure (the VoloPort and VoloIQ).

With more than ten years of development experience and more than 1,500 successful test flights under its belt, Volocopter is a UAM leader. Volocopter anticipates launching its first commercial air taxi routes in the next two years in megacities like Singapore, Rome, Paris, and the NEOM region. Volocopter is the first and only electric vertical takeoff and landing (eVTOL) company to receive Design Organization Approval (DOA) from the European Union Aviation Safety Agency (EASA).

Geely Holding, a dependable partner of Volocopter, supports GLy. Geely and Volocopter’s joint venture aims to introduce UAM to China. China is anticipated to grow to be one of the biggest markets for electric air taxis due to the high density of its megacities.

Volocopter’s Series E fundraising round is still open despite the fact that many prospective businesses have already completed the due diligence stage.