Volocopter raises €50m for air taxi launch

8772 Volocopter has raised €50 million to help commercially launch its VoloCity air taxi within the next few years.

Automotive company Zhejiang Geely Holding led the funding round and is partnering with Volocopter to develop urban air mobility in China.

Li Shufu, Geely Holding chairman, says: “Geely is transitioning from being an automotive manufacturer to a mobility technology group, investing in and developing a wide range of next-generation technologies.”

Looking ahead, Volocopter expects to close a second funding round toward the end of the year and says it remains open to new investors.