Just days after Volocopter’s flight over Singapore’s Marina Bay, Micron Ventures announces its participation in a Series C round to fund the German Urban Air Mobility (UAM) startup. The round’s first close was in September at €50 million.
Volocopter, based in Baden-Wurttemburg, has developed the VoloCity Aircraft, an electric helicopter or “air taxi.” In addition to air taxis, Volocopter is developing the ecosystem around urban air mobility, working with the European Union Aviation Safety Agency on securing Type I certification to transport people commercially. This effort includes VoloPorts that connect VoloCity aircraft with inner-city traffic hubs, such as airports and business districts.
Micron is the largest memory supplier for the automotive industry, with high-performance solutions that facilitate advancements in autonomous driving, virtual reality and air travel. Micron Ventures is the company’s arm for strategic investment.
Commenting on the undisclosed investment, René Hartner of Micron Technology said: “Volocopter is an exciting company that’s well-positioned to revolutionize the mobility and transportation market and contribute to building a sustainable and environmentally friendly transportation infrastructure. Micron’s investment in Volocopter aligns with our view of the critical role that memory and storage solutions play in enabling the breakthrough capabilities needed for autonomous vehicles and edge computing.”
“We’re proud to have Micron partner with us as we execute on our bold vision to bring urban air mobility to life,” said Volocopter CEO Florian Reuter. “Volocopter helps megacities transform their mobility infrastructure toward a more sustainable future. We aim to offer affordable, autonomous, on-demand air taxi services to transport people in megacities — all for the price of a taxi ride and with significant time savings.”
Since its founding in 2011, Volocoptor has raised a total of €85 million in equity from investors such as Daimler, Geely, Intel Capital, Micron, BtoV, and Manta Ray Ventures.