Volocopter, a Bruchsal, Germany-based flying air taxi startup, raised over €25m in funding.
Backers included Daimler, technology investor Lukasz Gadowski from Berlin and further investors.
The company intends to use the funds to further expand the technology up to production maturity and commercial licensing through aviation authorities worldwide and invest in its team.
Co-founded by Stephan Wolf and Alexander Zosel and led by CEO Florian Reuter (formerly of Siemens) and CTO Jan-Hendrik Boelens (formerly of Airbus Helicopters). Volocopter develops vertically launching, fully electrical multicopters for the transport of people and of heavy lifting cargo drones. In 2016, the company was granted provisional licensing for a two seater Volocopter by the German aviation authority and later entered into an agreement with RTA Dubai over the global premiere of an autonomously flying air taxi.
The first licensed Volocopter should be on the market next year.