Volocopter, a German electric air taxi manufacturer, announced Tuesday it’s raised an additional $182 million as it continues to test various aircraft and pursues certification of its VoloCity air taxi.
Company executives heralded the new funding “despite the generally tense economic climate.” Momentum continues to build around the advanced air mobility sector, which saw $5.8 billion in investments in 2021, according to a Deloitte analysis released this year.
The pending introduction of eVTOLs, or electric vertical takeoff and landing aircraft, is seen as one transportation innovation that could reduce metropolitan areas’ road congestion. But regulation and commercialization remain works in progress. Although Volocopter is focused on launching in international cities like Singapore, Rome and Paris, it’s also set its sights on U.S. cities, including Los Angeles.