Air taxi startup Volocopter raises $170 million in new financing round

A test flight of the "Volocopter 2X" drone taxi during an Urban Air Mobility Airport Demo event at Gimpo Airport in Seoul, South Korea, November 11, 2021. REUTERS/Heo Ran/Files

BERLIN (Reuters) - German aviation startup Volocopter said on Friday it had raised $170 million from investors including funds run by Korean WP Investment in a new financing round as it seeks certification for its battery-powered flying taxi.

Volocopter said the total funds it had raised jumped to $579 million and its pre-money valuation was at $1.7 billion.