Volocopter has raised $170 million in the initial signing of its Series E funding round led by South Korean investor WP Investment, at a pre-money valuation of US$1.7 billion. Composed of funds by new and existing investors, the money raised will assist with the certification of Volocopter’s electric passenger air taxi and is expected to help Volocopter achieve commercial launch in first cities worldwide. Volocopter is developing new and sustainable mobility options for cities with its family of aircraft (the VoloCity, VoloConnect, and VoloDrone). As the first and only electric vertical takeoff and landing (eVTOL) company to receive Design Organisation

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