South Korea’s WP Investments, along with Honeywell and previous investor Atlantis, are the main backers for a $170 million Series E funding round for eVTOL aircraft developer Volocopter. The Germany-based start-up announced the fresh investment on Friday, reporting that it has now raised a total of $579 million.
The funds will support Volocopter’s efforts to bring the two-seat VoloCity vehicle to market, as well as to complete the development of its VoloDrone autonomous freighter and the larger VoloConnect passenger aircraft. They will also be used for work aimed at establishing the first air taxi services, probably from 2024, in several cities expected to include Singapore, Rome, and Paris.
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