Volocopter, a German company that’s developing autonomous electric takeoff and landing (eVTOL) aircraft for commercial air taxi services, has extended its series C financing by another €37 million ($40 million). This takes the round total to €87 million ($94 million) following the original €50 million ($54 million) tranche back in September, and means the company has raised €122 ($132 million) in total since its inception.

The series C extension backers include German logistics giant DB Schenker, Mitsui Sumitomo Insurance Group, TransLink Capital, Lukasz Gadowski, and Btov.

Founded in 2011, Volocopter is one of a number of urban aviation startups setting out to monetize the skies with a new type of electrified commercial transport designed for urban environments — the aircraft can take-off and land vertically, like a helicopter, meaning that runways and other…

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