Urban-Air Port raises £20m to expand its network of flying-taxi hubs and ground infrastructure.
The company doubled its initial target with backing from Dymond Group and a European real estate operator.
Urban-Air Port builds and operates ground infrastructure and vertiports for electric vertical takeoff and landing aircraft. The startup launched its first operational hub in Coventry following backing from automotive and real estate investors.
Urban-Air Port has secured £20m in equity investment, doubling its original £10m target as demand increases for urban air mobility infrastructure. The capital will support the company as it develops deployable bases for flying taxis and autonomous delivery drones, addressing a critical bottleneck in the advanced air mobility sector.
The fresh funds follow the public debut of Air-One, the firm's first fully functional vertiport built in Coventry. Backers for the infrastructure and real estate operations include the Canadian services firm Dymond Group alongside a European real estate operator, with Hyundai also listed among the company's supporters.
The business plans to roll out more than 200 vertiports globally over the next five years to facilitate zero-emission passenger and cargo transport.
From the founder
"The opening of Air-One is a momentous occasion – the starting gun for a new age of transport, an age of zero-emission, low-congestion travel between and within cities that will make people healthier, happier and more connected than ever before,"
Ricky Sandhu
Founder and Executive Chairman at Urban-Air Port
Investors
Categories
About the company
Urban-Air Port
Urban-Air Port develops physical ground infrastructure and vertiports for electric vertical takeoff and landing aircraft.