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Volocopter raises USD170M in new financing round

BERLIN (CNA) – German aviation startup Volocopter said yesterday it had raised USD170 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 USD579 million and its pre-money valuation was at USD1.7 billion.

The company said the funds raised in the series E financing round will help the certification of its electric passenger air taxi and the commercial launch worldwide.

Volocopter said new investors include Korea’s WP Investment and Honeywell, adding that existing investors including Atlantia, Whysol and btov Partners also increased their investment in this round.

A Volocopter 2X drone taxi during a test flight in Seoul. PHOTO: CNA

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