Apr 30, 2024 05:16 AM

BUSINESS

Flying Car Startup Volant Completes $13 Million Funding Round

By Fang Zuwang and Han Wei

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Volant’s VE25 model

Volant’s VE25 model

What’s new: Shanghai Volant Aerotech Co. Ltd., an electric vertical takeoff and landing aircraft (eVTOL) startup, said it has completed a new funding round to raise nearly 100 million yuan ($13.8 million) as investors bet on the fast-developing sector.

The fundraising was backed by Shanghai Huaqiang Investment Co. Ltd. and Jadex Capital. Volant didn’t disclose its valuation.

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