- WP Investment of Korea is the lead investor in the round, followed by Atlantia and Honeywell, among others.
- USD 1.7 billion in pre-money valuation, USD 579 million in total funds raised
- Funding will be used to complete certification and prepare for commercial launch in the first cities.
- A joint venture agreement has been signed with WP Investment for the operation of air taxis in South Korea.
4 March 2022, Bruchsal, Germany – Volocopter, the pioneer of urban air mobility, has raised USD 170 million in the initial signing of its Series E funding round led by South Korean investor WP Investment, valuing the company at USD 1.7 billion pre-money. The funding round, which includes new and existing investors, will aid in the certification of Volocopter’s electric passenger air taxi and is expected to aid in the company’s commercial launch in first cities worldwide.
Volocopter is developing new and sustainable modes of urban mobility for cities worldwide. The company takes a unique approach with its family of aircraft (the VoloCity, VoloConnect, and VoloDrone) by developing urban air mobility (UAM) as a holistic ecosystem. Volocopter is the undisputed leader in the urban air mobility space, with ten years of development experience. Volocopter has committed to launching commercial air taxi services in cities such as Singapore, Rome, and Paris as the first and only eVTOL company to receive Design Organization Approval (DOA) from the European Union Aviation Safety Agency (EASA).
“This funding round is a testament to Volocopter’s leading position in what is a highly attractive emerging market. We continue to make significant technical and commercial progress as we work toward bringing urban air mobility to life at scale in cities worldwide,” said Florian Reuter, CEO of Volocopter.
“Volocopter has spectacular investors from around the globe, which puts us in an excellent position to focus on our first-to-certification and first-to-market strategies before we embark on the path to public listing. I’m excited to accelerate our path to commercial launch together with investors, partners, and the phenomenal Volocopter team!”
WP Investment, based in Seoul, Republic of Korea, is a significant and new investor in this round of funding for Volocopter. Following this announcement, Volocopter and WP Investment will form a strategic partnership to establish a joint venture that will bring urban air mobility to South Korean cities in the near future.
Dr. Lei Wang, Chairman of WP Investment
“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. ”
Tiffany Park — Co-Founder and Co-Chairman of WP Investment
“We are excited to kick off our joint venture and be the first to establish sustainable eVTOL logistics and air taxi services with Volocopter in Korea.
New investors in Volocopter include WP Investment and Honeywell, amongst others. Many existing investors including Atlantia, Whysol, and btov Partners, have also increased their investment in this round.”
Elisabetta De Bernardi — Atlantia’s European Investment Director
— Investment Director Europe for Atlantia
“We decided to strengthen our investment in Volocopter because we strongly believe in its ability to rapidly bring to life this innovative and sustainable mobility. We will continue to promote urban air mobility, a fast-growing business that can help reduce emissions and traffic in large cities.”
“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, Chairman 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.”
The company recently announced the signing of a letter of intent with Aviation Capital Group (ACG) to shape the sale and leasing of Volocopter aircraft worth up to USD 1 billion. Once the aircraft is certified, this agreement will enable Volocopter to offer attractive leasing options to its operating entities and customers worldwide, a critical component of the company’s future growth.