Volocopter Is Now A Unicorn
Volocopter raised 150 mn € (170 m US$) at a 1.5 bn € (1,87 m US$) valuation and joins the league of German unicorns. The investment is part of a Series E fundraising, which should raise up to 500 mn Euros (550 mn US$), so be ready for more news from them. The first trance is led by WP Investment from South Korea.
The company aims to produce electric VTOL (vertical takeoff and landing) aircraft for air taxi services. Their proclaimed goal is to start with commercial flights for the Paris Olympic Games 2024.
The unicorn fundraising was announced on March 1st, 2022, and on March 8th the company announced a change in the CEO position. Dirk Hoke (formerly Head of Airbus Defence and Space) will take over from Florian Reuter, who has been the 5th employee of the company. Hoke is under a non-compete agreement until the end of August, so he will take over on September 1st.