DB Schenker, Mitsui Sumitomo Insurance and MS&AD Ventures have helped the airborne taxi developer extend its series C round, which already included Geely Holding Group.
Germany-based airborne vehicle developer Volocopter confirmed today it has expanded its series C round to €87m ($94m), raising new funding from investors including rail operator Deutsche Bahn’s DB Schenker subsidiary.
DB Schenker invested $21.7m according to Deutsche Startups, and was joined by Mitsui Sumitomo Insurance and MS&AD Ventures, both subsidiaries of insurance group MS&AD, as well as TransLink Capital Partners, which is backed by insurer Sompo Japan and airline operator Japan Airlines.
Venture capital firm Btov Partners and private investor Lukasz Gadowski also added new funding. The company had secured $55.2m in a September 2019 first tranche led by automotive manufacturer Zhejiang Geely Holding Group.
Volocopter is developing an aerial electric vehicle designed to be the basis for an urban airborne taxi service. It has tested the vehicles in Germany, Finland and Singapore and expects to begin operating commercially in two to four years once regulatory clearance has been…
