Volocopter raises EUR 50 million at sets timeline for commercial launch
Congratulations to our portfolio company Volocopter GmbH! The Urban Air Mobility pioneer raised EUR 50m in the first closing of its Series C round, led by Zhejiang Geely Holding Group (Geely Holding) and under participation of btov and other existing and new investors. Geely and Volocopter will enter into a joint venture in the Chinese market. The funds will i.e. be put towards receiving commercial certification by the European Aviation Safety Authority (EASA) for its fourth-generation VoloCity aircraft.
Having only raised EUR 35m prior to this round, the company has written aviation history on various occasions since foundation in 2011. Volocopter has successfully performed numerous public demonstrations of the viability of its leading eVTOL aircraft, most recently at Helsinki International Airport with full UTM/ATM integration.
Read more over at TechCrunch here.