Volocopter Extends Series C funding to €87 million with DB Schenker’s Investment

Volocopter and DB Schenker announced an investment by the global logistics service provider into the aerial mobility startup as Volocopter extends its Series C funding to now a total of €87 million.

Volocopter’s Series C funding now includes DB Schenker, Mitsui Sumitomo Insurance Group, MS&AD Ventures, and TransLink Capital (Japan Airlines and Sompo Japan Insurance), Lukasz Gadowski and btov also invested. The funding is most likely aimed at the certification for Volocopter’s project: VoloCity, as well as funding a second-generation VoloDrone and hiring more industry experts. As of now, Volocopter’s total funding is at €122 million.

VoloCity is Volocopter’s autonomous electrical VTOL aircraft project where they plan to offer air taxi services across metropolitan areas across the world. Recently, Volocopter completed a public flight over the Marina Bay Reservoir in Singapore. “We are convinced that the Volocopter technology has the potential to bring transport logistics to the next dimension for our customers”, says Jochen Thewes, CEO of DB Schenker. “DB Schenker has already tested autonomous and electrical vehicles in several innovation projects and in actual operations. By integrating the VoloDrone into our supply chain of the future, we will be able to serve our clients’ demand for fast, remote, emission-neutral deliveries. We are thrilled to now be part of this drive for innovation in a fantastic team.”

According to Florian Reuter, CEO of Volocopter, “The new shareholder structure strengthens our global network of strategic and financial partners significantly. Bringing urban air mobility to life for passengers and goods is a great ambition and with our new partners, we bring the expertise and necessary long-term funds on board to make this innovative form of mobility a reality.” Volocopter also recently appointed Yifan “Frank” Li, Vice President of Geely Holding Group Co, Ltd., and Jochen Thewes, CEO of DB Schenker, as new additions to its Advisory Board.

Why it’s important: Volocopter continues to secure their future development as their Series C funding round now finishes at €87 million. The company remains one of the most promising aerial mobility startups in the industry, and comes closer to offering their products and services within the decade.

Source // American Journal of Transportation