Flying taxi startup Volocopter raises $55 million in round led by Volvo parent Geely

Photo by Sean O’Kane / The Verge

German air taxi startup Volocopter raised €50 million ($55.3 million) in a funding round led by Geely, the Chinese parent company of Volvo Cars, the company announced. The new funds will be put toward achieving Volocopter’s goal of launching a commercial air taxi service powered by its 18-rotor electric aircraft “within the next three years.”

In addition to leading this series C funding round, Geely will also enter into a joint venture with Volocopter to bring the startup’s aircraft to China. Volocopter has conducted a handful of public demonstrations of its electric vertical takeoff and landing (eVTOL) aircraft, most recently at the airport in Helsinki.

Geely isn’t the only…

Continue reading…

Main Source
Author

You might also like More from author

Comments are closed.