Volocopter eVTOL air taxis get $182 million lift toward certification

German electric vertical takeoff and landing (eVTOL) air taxi developer Volocopter has raised over $180 million in new funding that it says will help power the company through certification and into its launch of aerial services by mid-decade.

The Bruchsal-based start-up said it had raised $182 million in a second signing of its Series E funding round. Joining its ownership group are Chinese automotive giant Geely Holding’s investment unit, GLy Capital Management, and the Saudi Arabia-backed futuristic smart city Neom. In announcing the development, Volocopter said the new cash infusion will support its work to take its eVTOL VoloCity air taxi craft through the certification process and into expected operation within two years.

Read: First crewed eVTOL air taxi test flight at Rome AAM vertiport debut

Taking a direct stake in Volocopter transforms the previous relationships both newly arrived investors had established with the company. Last year