Volocopter, a German Urban Air Mobility (UAM) company, received an investment from global logistics service provider DB Schenker.
With the deal, Volocopter extended its Series C funding, which now totals €87m. Besides DB Schenker, Mitsui Sumitomo Insurance Group, TransLink Capital joined the round as new investors, with existing investor Lukasz Gadowski and btov also investing.
The funding will go towards the certification of the VoloCity, hiring more industry experts, and a second generation VoloDrone to ensure commercialization of the heavy-lift cargo drone product. To date, Volocopter has raised total funding of € 122 million.
Founded in 2011 by Stephan Wolf and Alexander Zosel, and led by CEO Florian Reuter, CTO Jan-Hendrik Boelens, CFO Rene Griemens, and CCO Christian Bauer, Volocopter is developing autonomous electrical Vertical Take-Off and Landing (eVTOL) aircraft, e.g. the VoloCity, to offer air taxi services in large cities as an addition to existing transport options. The company recently championed several public flights at Helsinki airport, in Stuttgart, and over Singapore’s Marina Bay.
Volocopter has 150 employees in offices in Bruchsal, Munich, and Singapore.