Volocopter Takes in 200 Million
Innovative young air taxi developer Volocopter has received a massive influx of capital from investors including German rail company Deutsche Bahn, Intel, Daimler and Geely as well as Continental and Blackrock.
“Thanks to our partnerships, we can avail ourselves of the necessary expertise to open up our first routes in the coming years,” said Volocopter CEO Florian Reuter in a statement.
The company from the southwestern German town of Bruchsal was founded ten years ago and is developing electric “multicopter” taxis for short distances in urban areas. Germany’s largest automotive club, the ADAC, has already ordered two the firm’s Volocity copters.
“The fact that the ADAC, which runs the largest fleet of helicopters in Europe, decided in our favor is an enormous signal of trust in Volocopter,” Reiter added.
Financing for air taxis made a quantum leap in 2020, reaching more than USD 1.1 billion. Analysts from Morgan Stanley think that the market for electronic air taxis to carry passenger and freight could be worth upwards of USD 1.5 billion by 2040. The European air safety authority EASA thinks that air taxis and drones could be cleared for such uses by the middle of this decade.
Other prominent young air taxi developers in Germany are Lilium and Joby Aviation, both located in Munich.