VCs in €200m round for Volocopter

The company has now raised €322m in funding, Volocopter said in a statement.

New investors BlackRock, Avala Capital, Atlantia, Continental, NTT and Tokyo Century took part in the round.

All existing investors also participated in the round, according to a statement, which specified that Geely, Daimler, DB Schenker, Intel Capital, BtoV Partners, Team Europe and Klocke Holding have contributed further capital.

Volocopter intends to put the fresh funding towards the certification of its battery-powered air taxi, VoloCity, as well as the launch of its first commercial routes.

Previous funding
Volocopter raised $25m from investors including Daimler and business angel Lukasz Gadowski in August 2017, according to Unquote Data. In November that year, BtoV and Intel Capital invested €5m in the company.

In September 2019, Geely led a €50m round for the business, following which the companies entered into a joint venture to facilitate Volocopter's expansion to China.

In February 2020, new investors DB Schenker, Mitsui Sumitomo Insurance Group, TransLink Capital and MS&AD Ventures (the venture capital arm of US insurance company MS&AD) led a €37m round for Volocopter. Existing investors Lukasz Gadowski and BtoV also participated.

Company
Founded in 2011 and based in Bruschal, Volocopter develops electric autonomous air taxis and drones for commercial and passenger use. The company is planning to establish air taxi routes in Singapore and Paris and also intends to expand to the US, Asia and Europe in future. The company employs 244 staff, according to LinkedIn.

People
Volocopter – Florian Reuter (CEO); Rene Griemens (CFO).

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