BERLIN (Reuters) – German aviation startup Volocopter stated on Friday it had raised $170 million from traders together with funds run by Korean WP Funding in a brand new financing spherical because it seeks certification for its battery-powered flying taxi.
Volocopter stated the whole funds it had raised jumped to $579 million and its pre-money valuation was at $1.7 billion.
The corporate stated the funds raised within the sequence E financing spherical will assist the certification of its electrical passenger air taxi and the business launch worldwide.
Volocopter stated new traders embody Korea’s WP Funding and Honeywell, including that present traders together with Atlantia, Whysol and btov Companions additionally elevated their funding on this spherical.
(Reporting by Nadine Schimroszik; Writing by Riham Alkousaa; Modifying by Miranda Murray)