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Volocopter secures undisclosed funding to finalize eVTOL certification
Passenger eVTOL Aircraft
Jun 7, 2024
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Passenger eVTOL Aircraft

Passenger eVTOL Aircraft

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Jun 7, 2024

Volocopter secures undisclosed funding to finalize eVTOL certification

Funding

  • Volocopter, a German aviation company developing passenger and cargo eVTOL aircraft, has secured an undisclosed amount of funding from existing shareholders.

  • Volocopter expects the funding round to close in the last quarter of 2024, until which it won't be able to disclose further information about its financial position.

  • Following the latest funding round, Volocopter announced that it has ample funding to finish type certification of its two-seat VoloCity eVTOL model with the European Union Aviation Safety Agency (EASA) by the end of 2024.

  • Analyst QuickTake: Volocopter recently experienced insolvency risks in April 2024, following a failed bid to acquire a EUR 100 million (~USD 107 million) loan in April from the German Federal Government. This has led to Volocopter considering the Saudi Arabian urban regional project, NEOM, as an alternative backer for funds. In 2022, NEOM contributed to Volocopter's Series E funding round.

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