Air-taxi startup Volocopter boosts funds in race to get flying

Volocopter plans to start commercial operations in Singapore by 2023, with tickets for 15-minute tourist flights already on sale for €300 (RM1,470). — AFP

Volocopter GmbH raised €200mil (RM980.04mil) in additional capital, the latest move in the increasingly competitive race to be the first electric air-taxi firm to start commercial flights.

The so-called Series D funding brings in new investors including toll road and airport operator Atlantia SpA, tire maker Continental AG, NTT, Avala Capital and funds managed by BlackRock, Volocopter said in a statement Wednesday. The fund-raising is oversubscribed, with all existing investors taking part.