by Michael Willoughby
Volcopter has received Series C funding from Micron Ventures, the investment arm of Micron Technology.
“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,” said René Hartner, vice president of Corporate Business Development at Micron Technology. “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.”
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 Venture’s investment in Volocopter reflects the company’s constant scouting for new, innovative solutions.
“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.”
Micron Ventures identifies and directs Micron’s investments in technology-first startups, creating value from new computing architectures and applied artificial intelligence and machine learning solutions. As a leading global semiconductor company working across industry verticals, Micron is uniquely positioned to accelerate portfolio companies into global markets through research and development support, productization and collaborative market entry.
The new investment round was led by Zhejiang Geely Holding Group (Geely Holding), a privately owned automotive group from China with a portfolio of global brands including Geely Auto, Volvo Cars, Lotus and other automotive companies. Geely has also partnered with Daimler to bring smart and premium ride-hailing services to market.
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