Raue Advises Volocopter on Series C-Financing Round for VoloCity Air Taxi

Raue has advised Volocopter on a Series C financing round with a volume in excess of 50 million euros. Led by the Chinese Zhejiang Geely Holding Group Co. Ltd., nine new and existing shareholders from Europe, America and Asia are investing in the German urban air mobility provider Volocopter. The company will use the funds over the next three years for the market launch of its latest model, the VoloCity air taxi. Volocopter is planning a second closing with further investors towards the end of the year.

Geely Holding, a private automobile group from China with a portfolio of global brands such as Geely Auto, Volvo Cars and Lotus as well as other automobile brands, will become a shareholder of Volocopter alongside existing strategic investors such as Daimler. The founders Stephan Wolf and Alexander Zosel together remain the company’s largest shareholder.

In connection with Geely’s investment, Geely Holding and Volocopter establish a joint venture to promote urban air mobility in China.

Raue was the lead advisor to Volocopter on the financing round and the corporate and regulatory aspects of the project.

Volocopter builds two-seater aircraft based on drone technology. The company cooperates with leading partners in infrastructure, operations and air traffic control (ATM) to build an entire ecosystem around air taxis and to realize urban air mobility. Stephan Wolf and Alexander Zosel founded Volocopter in 2011; the company now employs over 150 people in offices in Bruchsal, Munich and Singapore. Volocopter is led by CEO Florian Reuter, CTO Jan-Hendrik Boelens and CFO Rene Griemens and has so far raised a total of over 85 million euros including the latest Series C financing round.

(10 September 2019)