Volocopter and DB Schenker have reported an investment by the global logistics service provider into the pioneer of Urban Air Mobility (UAM) as Volocopter extends its Series C funding to now total €87 million. Besides DB Schenker, Mitsui Sumitomo Insurance Group, TransLink Capital who join the round as new investors, existing investor Lukasz Gadowski and btov also invested. The funding will go towards the certification of the VoloCity, hiring more industry experts and a second generation VoloDrone to ensure commercialization of the heavy-lift cargo drone product. To date Volocopter has raised total funding of €122 million.
Volocopter is developing autonomous electrical Vertical Take-Off and Landing (eVTOL) aircraft, e.g. the VoloCity, to offer air taxi services in the megacities of this world as an addition to existing transport options. Just recently the company performed a public flight over Marina Bay Reservoir in Singapore demonstrating the maturity of its technology. A full scale VoloPort prototype on display allowed visitors to experience what UAM could feel like in the future. This bears testimony to Volocopter’s holistic approach to UAM as an ecosystem. Last October, Volocopter presented the demonstrator of its VoloDrone, marking the company’s expansion into the logistics, agriculture, public services and construction industries. (€1.00 = US$1.08 at time of publication.)
