21 February 2020:

Flying taxi startup Volocopter, today announced that it has extended its Series C funding to now total €87 million.

DB Schenker, Mitsui Sumitomo Insurance Group, TransLink Capital and existing investor Lukasz Gadowski and btov also participated in the funding round.

The startup will use the fresh capital for 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.

TTe company has also newly appointed Yifan “Frank” Li, Vice President of Geely Holding Group Co, Ltd., and Jochen Thewes, CEO of DB Schenker, to its Advisory Board.

Jochen Thewes, CEO of DB Schenker, said, “We are convinced that the Volocopter technology has the potential to bring transport logistics to the next dimension for our customers.”

Jochen Thewes, added, “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.”

Florian Reuter, CEO of Volocopter, said, “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’s Chairman Stefan Klocke said, “We very much welcome the new members to our Advisory Board, in particular Dieter Zetsche and Martin Hubschneider. The board will support the management in the further strategic development of the company towards the global market leader in urban air mobility and in the preparations for a potential future IPO!”

Volocopter has recently championed several public flights at Helsinki airport, in Stuttgart, and over Singapore’s Marina Bay.

(Image – Volocopter)

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