Volocopter Raises $55 Million for Flying Taxis: Travel Startup Funding This Week
Photo Credit: VoloCity is an aircraft that that might carry two people plus luggage for about 50 miles. It is the lead product of Volocopter, a German startup that has just raised $55 million in additional funding. Volocopter
Skift Take
This week, travel startups Volocopter, Atlas Obscura, KKDay, AmazingCo, Living Map, Sojourn, and Davinci Travel Systems announced more than $93 million in funding. The venture capital sector clearly isn't spooked by talk of recession in some markets.
Travel Startup Funding This Week
Each week we round up travel startups that have recently received or announced funding. Please email Travel Tech Reporter Justin Dawes at [email protected] if you have funding news.
This week, travel startups announced more than $93 million in funding.
>>Volocopter, one of the pioneers of electric air taxis, has raised $55.1 million (€50 million) of funding in a Series C round.
Zhejiang Geely Holding Group, a Chinese automaker that owns the Volvo brand, led the round.
Related to the funding, the startup has formed a joint venture with Geely, which now has a minority stake in it, to bring flying cars to China.
In Europe, the VoloCity air taxi aspires to launch commercially by 2023. Rival companies are aiming to build similar products, including Uber, Boeing, Airbus, NEC, and a Toyota-backed project.
Volocopter, which is based in Bruchsal, Germany, has raised about $89.7 million (€88.1 million) to date. For context on why "it's ludicrous to expect the market to grow beyond a niche offering for the wealthy anytime in the next few decades," read our explainer on flying taxis.
>>Atlas Obscura, a travel experiences and media company, ha
