AJOT | February 21, 2020 | Air Cargo | Technology | Logistics
Volocopter and DB Schenker today announced an investment by the global logistics service provider into the pioneer of Urban Air Mobility (UAM) as Volocopter extends its Series C funding to now a total of €87 million. Besides DB Schenker, Mitsui Sumitomo Insurance Group, MS&AD Ventures, and TransLink Capital (Japan Airlines and Sompo Japan Insurance) join the round as new investors, existing investors Lukasz Gadowski and btov also invested. The funding will go towards the certification of the VoloCity, hiring more industry experts, and a second generation VoloDrone to ensure commercialization of the heavy-lift cargo drone product. To date, Volocopter has raised total funding of €122 million.