Volocopter develops electric vertical take-off and landing (eVTOL) aircraft. Six weeks after warning it could be forced to consider insolvency, the company announced it had been successfully financed by several existing investors. The company described the transaction as a financial lifeline. Due to ongoing contractual obligations, Volocopter said it could not disclose the investor names or the amount raised. The article did not provide details on the financing instrument, past rounds, future plans, valuation, or operating metrics. Volocopter develops the VoloCity eVTOL passenger air taxi and positions itself as a pioneer in urban air mobility. The company has conducted international tests, including a South Korean test flight in November 2021, and first committed to a Japanese market entry in 2018. Volocopter expects regulatory approval from the European Union Aviation Safety Authority in 2024, and its concurrent type‑certification application to Japan's Civil Aviation Bureau has been accepted. Japanese, Singaporean and U.S. (FAA) regulators are validating its urban air mobility system. The company plans to showcase a full‑size VoloCity replica at an Osaka shopping mall to build public awareness ahead of regional launches. Strategic partners and investors are being used to support certification and commercial rollout plans, including a targeted Japan service date of 2025. Volocopter is a German startup that builds electric vertical takeoff and landing (eVTOL) vehicles, principally the two-seater VoloCity air taxi. It also develops the VoloDrone heavy-lift electric drone and the VoloIQ digital platform for bookings and flight operations. The company is in active flight testing to meet European Union Aviation Safety Agency (EASA) requirements and has received Design Organisation Approval in 2019 and Production Organisation Approval in 2021. Volocopter aims to obtain Special Condition certification for small-category VTOL aircraft by the second half of 2023 and begin initial revenue-generating rides in 2024. Recent fundraising — including a $182M second signing of its Series E on top of a $170M tranche from March — will fund testing, certification, infrastructure development, ecosystem integration and public awareness ahead of commercialization. The company has formed joint ventures with Neom and Geely Holding to integrate its aircraft into smart-city and China markets, with Neom ordering 15 aircraft and the Geely JV agreeing to purchase 150. Volocopter develops eVTOL aircraft and an urban air-taxi operating model from its base in Bruchsal, southern Germany. The company highlights three aircraft families—VoloCity, VoloConnect and VoloDrone—and has completed roughly 1,000 public and private test flights. It is the first eVTOL company to receive Design Organisation Approval from the European Union Aviation Safety Agency, positioning it for certification and early market entry. Volocopter plans to use new funding to kick off commercial air taxi services in cities such as Singapore, Rome, Paris (and South Korea has been mentioned for launch), aiming for initial commercial operations around 2024 contingent on certification. At commercial launch flights will be piloted, though the VoloCity is technically capable of crewed, remotely piloted, and autonomous operation and the company says it will transition toward non-crewed flights as regulations and public acceptance evolve. Management has said the business will pursue a path to a public listing eventually. Volocopter develops fully electric eVTOL aircraft and associated physical and digital infrastructure, including the VoloCity and VoloDrone aircraft, VoloPort terminals, and the VoloIQ digital platform. The company partners with firms across infrastructure, operations, and air traffic management to build the ecosystem required for urban air mobility. Its product roadmap and services range from autonomous electric air taxis for passengers to cargo delivery via VoloDrone. Volocopter intends to use recent funding to bring the VoloCity to certification and to accelerate the launch of its first commercial routes. The company is the first eVTOL firm to receive Design Organisation Approval (DOA) from EASA and expects first commercial air taxi routes within the next two years. To date it has conducted milestone flights in Helsinki, Stuttgart, Dubai, and over Singapore’s Marina Bay and has cumulatively raised €322m.

Total raised

$724M

Funding rounds

10

Latest round

Series E

Latest activity

Nov 2022