Volocopter has raised €200 million ($240 million USD) in Series D funding, which will help accelerate its VoloCity eVTOL air taxi to certification and the launch of its first commercial routes within the next two years.

It brings Volocopter’s total funding to €322 million and among the new investors include BlackRock, global infrastructure company Atlantia S.p.A., Avala Capital, mobility technology giant Continental AG, global technology focused investment fund Jericho Capital, global technology and business solutions provider NTT via its venture capital arm, Tokyo Century.

Existing investors, including Geely, Daimler, DB Schenker, Intel Capital, btov Partners, Team Europe, and Klocke Holding, also joined this funding round.

Florian Reuter, CEO of Volocopter, said: “Volocopter is ahead of the curve in the UAM industry, and we have the achievements to prove it. No other electric air taxi company has publicly performed as many flights in cities around the world, with full regulatory approval, as Volocopter has.

“Our VoloCity is the fifth generation of Volocopter aircraft and has a strong path to being the first certified electric air taxi for cities. Volocopter already has the extensive partnerships necessary to set up the urban air mobility ecosystem for launching both our company and the industry into commercial operations. We are called the pioneers of UAM for a reason, and we plan to keep that title.”

With 10 years of development experience, Volocopter is regarded as one of the leaders in the urban air mobility space. It has been flying since 2011 and has amassed more than 1,000 test flights. It is currently the only eVTOL aircraft developer to receive Design Organisation Approval (DOA) from the European Union Aviation Safety Agency (EASA).

Volocopter has performed milestone flights in Finland, Germany, Helsinki, the United Arab Emirates and over Singapore’s Marina Bay. While the first routes are yet to be announced, the company has committed to establishing air taxi services in Singapore and Paris – with plans to expand many more routes in Asia, Europe. and USA.

Once operational, VoloCity eVTOL air taxi can transport two passengers at a range of 35km, travelling at speeds of up to 110km/h.

The company is now in the final stages of providing new, sustainable mobility options for cities around the world. Its future services range from electric autonomous air taxis, to transporting goods with the company’s VoloDrone.

Volocopter is also developing a full ecosystem to connect all the vital parts to get the industry off the ground. This also includes physical and digital infrastructure, with its VoloPort and VoloIQ, as well as partnerships with global leaders in their respective fields.

Rene Griemens, CFO of Volocopter, said: “We are thrilled to welcome investors who share our belief that innovative technology like our Volocopter is one of the key enablers for a sustainable future. Our shareholder structure remains well balanced with a healthy mix of strategic and financial partners spread as globally as our business ambitions.”