Raue comprehensively advised German Urban Air Mobility (UAM) pioneer Volocopter on its second closing of its Series E funding round by which Volocopter raised an additional 182 million euros. Volocopter intends to use the funds for the aircraft certification of the VoloCity as well as for the launching of the first commercial routes.
NEOM – the Red Sea’s smart, cognitive region project – and GLy Capital Management of Hong Kong have joined Volocopter’s investor base in the second closing of the Series E financing round.
In December 2021, Volocopter and NEOM had signed a joint venture (JV) with the aim of integrating the VoloCity air taxi and the VoloDrone into NEOM’s connected mobility systems. The JV will design, integrate, and operate the region’s all-electric public flight routes for the first seven years after launch. GLy is backed by Geely Holding, a long-time partner of Volocopter and anchor investor. The joint venture between Geely and Volocopter aims to bring UAM to China. With its high density of megacities, China is expected to become one of the largest markets for electric air taxis. Due to further interested investors, the Series E funding round remains open.
Raue advised Volocopter, as in previous financing rounds, comprehensively on all aspects of the second closing of this Series E financing, in particular on the corporate law and regulatory aspects of the project.
Volocopter brings urban air mobility (UAM) to megacities worldwide and aims to improve the quality of life for people in cities by offering a fantastic new mode of transportation. For that, Volocopter creates sustainable and scalable UAM ecosystems with partners in infrastructure and operations. Volocopter’s family of eVTOL aircraft will offer passengers (VoloCity and VoloRegion) and goods (VoloDrone) swift, secure, and emission-free flights to their destinations.
(1 November 2022)