Volocopter has signed off the first closing of its Series C funding round, led by Zhejiang Geely Holding Group.
The new funds, which exceed £45m, will be used to bring the VoloCity aircraft to commercial launch within the next three years.
The company said it remains in discussions with additional investors for a second closing around year-end.
The first closing will increase the total capital that Volocopter has raised to €85m.
Florian Reuter, CEO of Volocopter, said: “Urban mobility needs to evolve in the next few years to meet rising demand. With our Volocopter air taxis, we are adding a whole new level of mobility in the skies.”
Adding: “This funding round is allowing us to take great strides towards bringing Urban Air Mobility to life whilst being respectful of our shareholder’s money.”