Volocopter adds btov as new investor

European venture capital firm btov is investing in Volocopter, the start-up electric multicopter company.

It joins car company Daimler, Intel Capital and technology investor Lukasz Gadowski in the round that was first announced in August at Eu25 million.

Volocopter is planning to start flight tests in Dubai this year as part of a five-year programme with Dubai’s Road and Transit Authority. In 2016 it was granted provisional licensing for a two seater Volocopter by the German aviation authority.

The company was founded in 2011 by Stephan Wolf and Alexander Zosel. Florian Reuter, formally a venture manager at Siemens, is CEO. Hendrik Boelens, the former head of electrical systems engineering at Airbus Helicopters, is CTO.