Intel-Backed Startup Wants to Become the Uber of the Skies

Posted On June 7, 2018 1:03 pm

Forget autonomous cars — your next taxi might whiz you across town through the air.

Volocopter GmbH, a German startup backed by Intel Corp.and Daimler AG, has built a drone-like electric helicopter to ferry travelers across city skies. The company expects to offer its first commercial trips in the next three to five years, after completing test flights in Dubai and Las Vegas. It’s now seeking at least $100 million to gear up manufacturing of the flying taxis.

Volocopter is in talks with new and current investors to raise the funds “as soon as possible,” Chief Executive Officer Florian Reuter said in an interview, sitting inside a sleek white example of the drone parked in downtown Berlin. “We want to be the world’s first commercial air taxi service.”

Raising money is just one facet of the race to conquer local skies. Multiple aviation and technology companies, from planemaker Boeing Co. to a startup backed by Larry Page, are working on aircraft that could be used as robotic taxis, capable of landing on urban rooftops or special pods to pick up passengers who want to avoid traffic. Another hurdle is convincing regulators it’s a good idea to have these machines traveling over populated areas.

Continue Reading at Bloomberg.com

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