Volocopter, a German aviation firm, announced on Friday that it had raised $170 million in a new fundraising round from investors including Korean WP Investment funds as it seeks certification for its battery-powered flying taxi.
The total funds raised by Volocopter increased to $579 million, with a pre-money valuation of $1.7 billion.
The monies acquired in the series E fundraising round, according to the business, would aid in the certification of its electric passenger air taxi and its global commercial launch.
New investors include WP Investment and Honeywell from Korea, as well as current investors Atlantia, Whysol, and btov Partners, which all boosted their investments in this round.
