Micron Technology, Inc. (NASDAQ: MU) announced that its investment vehicle, Micron Ventures is participating in the Series C investment round in Volocopter. The investment round was led by Zhejiang Geely Holding Group, an automotive group from China that has multiple brands that operate globally.
Volocopter is a tech company that is constructing the world’s sustainable and scalable urban air mobility business to bring affordable air taxi services to megacities worldwide. The company builds electric powered aircrafts that meet current safety standards of aviation vehicles today. The goal of the company is to commercialize autonomous air taxi services.
“Volocopter is an exciting company that’s well-positioned to revolutionize the mobility and transportation market and contribute to building a sustainable and environmentally friendly transportation infrastructure,” said René Hartner, vice president of Corporate Business Development at Micron Technology. “Micron’s investment in Volocopter aligns with our view of the critical role that memory and storage solutions play in enabling the breakthrough capabilities needed for autonomous vehicles and edge computing.”
Micron is a major memory supplier in the automotive industry that offer advancements in autonomous driving. “We’re proud to have Micron partner with us as we execute on our bold vision to bring urban air mobility to life,” said Volocopter CEO Florian Reuter. “Volocopter helps megacities transform their mobility infrastructure toward a more sustainable future. We aim to offer affordable, autonomous, on-demand air taxi services to transport people in megacities — all for the price of a taxi ride and with significant time savings.”