German aviation startup Volocopter has raised €25 million from automotive firm Daimler and other investors, including entrepreneur Lukasz Gadowski for its flying autonomous taxi.
The new funds will be used for further development of the firm’s vertical take-off and landing (VTOL) flying autonomous taxi, which can carry two passengers. It will further develop the technology powering the vehicle and hire more engineers as well as begin obtaining commercial licensing from various aviation authorities as more test flights are on the cards.
The company will soon begin its first pilot project for the vehicle in Dubai later this year, which will last approximately five years. The city has an ambitious plan to carry out 25% of its transportation with autonomous vehicles by 2030.
“The strong financial commitment of our new investors is a signal as well as proof of the growing confidence in the newly emerging market for electrically driven VTOLs put to use as personal air taxis,” said Florian Reuter, managing director of Volocopter.
“In the coming years, we can expect a revolution in manned aviation,” said investor Lukasz Gadowski, who will be assisting the startup with scaling its operations.