The Intel and Daimler-backed air taxi developer secured $55.2m in a tranche led by Geely Holding and intends to reach a final close later this year.
Germany-based airborne taxi developer Volocopter closed the €50m ($55.2m) first tranche of its series C round today, the close being led by automotive manufacturer Zhejiang Geely Holding Group.
Founded in 2011 as E-Volo, Volocopter is developing electric-powered airborne vehicles that will take off vertically, for use as an air-based urban transportation service. The two-seater vehicle will make use of drone technology and is currently being tested.
The company intends to close the series C round by the end of 2019…
