German-based Volocopter, a builder of electrically powered vertical take-off and landing (eVTOL) aircraft, seeks to "bring urban air mobility to life" by commercializing autonomous, on-demand air taxi services. Its aircraft are designed to address the increasing need to transform megacity transportation systems and provide people with new commuting options.
"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," says 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, the largest memory supplier for the automotive industry, offers high-performance solutions designed to facilitate advancements in autonomous driving, virtual reality, and air travel. Its investment in Volocopter, says the company, reflects its constant scouting for new, innovative solutions.
Volocopter CEO Florian Reuter adds, "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."
In addition to air taxis, Volocopter is also developing the ecosystem around urban air mobility, which includes VoloPorts that connect VoloCity aircraft with key inner-city traffic hubs, such as airports and business districts.
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. 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.