Volocopter raised €25 million by Daimler and Lukasz Gadowski

Volocopter GmbH raised a funding of 25 million Euros for technology development in the air taxi market. The aerospace startup headquartered in Bruchsal, Germany, on Tuesday has been funded by automotive companies Daimler, technology investor Lukasz Gadowski from Berlin, and others to accelerate the realization in establishing an autonomous flying taxi service.

Tinuku Volocopter raised €25 million by Daimler and Lukasz Gadowski

Volocopter was first introduced in 2012 will use funding to encourage accelerated development of vertical take off and landing (VTOL) technology for autonomous flying taxi services that can carry two passengers.

The new funds will also be used to hire more engineers and obtain commercial licenses from multiple aviation authorities as their future flight testing schedule grows.

Volocopter will soon begin its first project in Dubai later this year which is expected to last for five years. Dubai is ambitious to facilitate 25 percent of transport there using autonomous vehicles by 2030.

Tinuku.com Volocopter raised €25 million by Daimler and Lukasz Gadowski

"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.

"We deliberately sought a mix of investors with strategic and entrepreneurial backgrounds and were able to implement this perfectly with Daimler and Lukasz Gadowski. We are world leaders in the development of electrical VTOL aircraft," said Reuter.

Reuter says Daimler is particularly interested in future mobility in autonomous vehicles or electric mobility, while Lukasz Gadowski will support aviation business and have enormous experience in fast and global technology startup scales.

"I have been interested in flying cars and following their development for a while. In the coming years we can expect a revolution in manned aviation. We at Volocopter will significantly contribute to shaping it," said Gadowski.