Dubai is getting ready for the next wave of transportation: electric air taxis.
What’s happening:
- Electric vertical takeoff and landing aircraft infrastructure startup Skyports has raised $110M USD in a Series C financing round
- The round was led by infrastructure giant ACS Group
The big idea:
- Skyports designs, builds and operates facilities known as vetriports that allow electric vertical takeoff and landing companies to take off and land in cities all over the world
- Skyports has an exclusive partnership with the Dubai government to operate the largest facility of its kind for electric vertical takeoff and landing aircraft operators
Why it matters:
- Electric air taxi startups have been seeing a surge in venture capital funding lately, as many countries have begun to announce formal partnerships and form plans around allowing passengers to travel on short distance air taxi flights
- Electric air taxis also represent a significant opportunity to decarbonize transportation in large urban cities which currently rely on fuel powered vehicles for commuting and short distance trips
By the numbers:
- ACS Group generated $39B USD in revenue last year
- Skyports has publicly stated they believe they will be operating electric air taxis passenger flights in Dubai in less than 36 months
Going deeper:
- Skyports has multiple notable backers including Irelandia Aviation and Deustche Bahn Digital Ventures
- Skyports also has an ongoing infrastructure partnership with Archer Aviation (NYSE: ACHR) who has their own electric air taxi that is preparing to launch
