German aviation startup Volocopter says it has raised $170 million from investors including funds run by Korean WP Investment in a new financing round as it seeks certification for its battery-powered flying taxi.
Volocopter, the startup out of southern Germany (Bruchsal) that has been developing electric VTOL (vertical takeoff and landing) aircraft and a business model for operating them in taxi-style fleets in urban areas, has picked up another big round of funding as it inches closer to its first commercial launches.
It raised $170 million, funding that it said it will be using to kick off its first air taxi services, which it noted in an announcement would be “in cities like Singapore, Rome, and Paris.”
