© Volovopter Business | October 25, 2019
Coming soon to a sky near you: Volocopter
Micron Ventures, the investment arm of Micron Technology Inc., has led a USD 55 million Series C investment round in urban air-mobility (UAM) pioneer Volocopter.
According to a press release, the new investment round was led by China’s Zhejiang Geely Holding Group (Geely Holding), a privately-owned automotive group with a portfolio of global brands including Geely Auto, Volvo Cars, and Lotus Other automakers with a vested interest in Volocopter include Daimler, the parent company of Mercedes-Benz, which invested USD 30 million in 2017. The stated mission of Volocopter, builder of electrically powered vertical take-off and landing aircraft, is to commercialize autonomous, on-demand air taxi services. In September, the company successfully completed its first manned flight over Singapore’s Marina Bay, kicking off its efforts to bring manned commercial air-taxi service to Singapore. The 2X model was flown for a distance of just under one mile at a cruising elevation of approximately 130 feet, lasting for about two minutes. According to a press release, the company is following what it calls the “growing migration of people to cities,” which is straining current modes of urban mobility. The German-based startup’s air taxi technology has been in development and undergoing testing for nearly 10 years, and its electrically powered vertical take-off and landing (eVTOL) aircraft are designed to bring alternative mass urban transit options to the table. René Hartner, vice president of Corporate Business Development at Micron Technology said, “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. 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.” Volocopter CEO Florian Reuter said, “We’re proud to have Micron partner with us as we execute on our bold vision to bring urban air mobility to life. 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.” This fourth round of funding brings the total amount funded to approximately USD 89 million.
EpiWorld speeds up commercialisation of SiC devices with AIXTRON AIXTRON SE has provided an AIX G5 WW C system to EpiWorld International Co., Ltd for the further development of next generation silicon carbide (SiC) epitaxial wafers mainly used for the manufacturing of power devices for automotive applications.
FlexEnable makes acquisition for flex displays FlexEnable, developer of flexible organic electronics, has purchased Merck's portfolio of high-performance organic thin-film transistor (OTFT) materials.
Sponsored content by SourcengineComponent Aggregators vs E-Commerce Marketplaces What is the difference between electronic component aggregators and a marketplace?
67% of a buyer’s journey is now done digitally. Learn how marketplaces emerged as full-cycle procurement platforms and challenged the traditional component aggregators.
Samsung’s CPU project ends, layoffs in CA and TX Samsung has confirmed in a letter to the Texas Workforce Commission that layoffs as a result of the closure of the CPU project at the Samsung R&D Center (SARC) in Austin, Texas and the San Jose Advanced Computing Lab (ACL) in San Jose, California, will begin December 31.
Marvell completes acquisition of Avera Semi Marvell has completed its acquisition of Avera Semiconductor, the Application Specific Integrated Circuit (ASIC) business of GlobalFoundries.
IAR Systems opens office in Taiwan Swedish IAR Systems, a supplier of software tools and services for embedded development, says the company is expanding in Asia with the opening of an office in Taipei, Taiwan.
ZF and Cree partners up to advance the electric drive ZF Friedrichshafen is teaming up with silicon carbide semiconductor specialist Cree, to create industry-leading, highly efficient electric drivelines.
Sponsored content by EsemdaContract manufacturer Esemda opens new facility in Vilnius and expands EMS The new facility has been built with reserved space for future expansions. As Esemda constantly grows, it is of great importance to be able to rapidly increase production capacity in large volumes.
Broadcom completes acquisition of Symantec Enterprise Security business Semiconductor company Broadcom, says that the company has completed its acquisition of the Enterprise Security business of Symantec Corporation
AVX acquires Chengdu OK New Energy AVX Corporation says it has completed the purchase of Chengdu OK New Energy, Ltd. (COKNE).
Vesper names new SVP of worldwide sales & business development MEMS sensor company Vesper, announces that Lorenzo Ponzanelli has joined the company as senior vice president of worldwide sales and business development, overseeing sales strategy and execution to drive global growth.
Gigaphoton establishes new company in China Gigaphoton, a manufacturer of light sources used in semiconductor lithography, says it has established and started running the business of a new company – Gigaphoton China Inc. in China.
Prepare, adapt & overcome - how ‘to Brexit’ The looming, but yet unknown, effects of Brexit have forced companies to prepare for whatever may come. But how does one really prepare for unknown consequences?
Acal BFi signs pan-European agreement with Champs Technologies Acal BFi says it has added Champs Technologies to its magnetics portfolio. Acal BFi is a Europe-wide specialist technology supplier and design partner with a specialist portfolio of magnetic cores and inductive components products and services.
POET’s sale of DenseLight Semi to close POET Technologies Inc. announced the sale of its subsidiary, DenseLight Semiconductors Pte. Ltd. to DenseLight Semiconductor Technology (Shanghai) Co. Ltd. is scheduled to close on or before Friday, November 8, 2019.
Odyssey Semiconductor picks up wafer fab Ithaca, New York’s Odyssey Semiconductor Technologies, specializing in high-voltage power switching components and systems based on proprietary gallium nitride (GaN) processing technology, has acquired an integrated semiconductor design, fabrication, test, and packaging facility.
Sponsored content by NCAB Group Benelux B.V.Failure is not an option for a PCB More than 30% of the Gerbers NCAB Group Benelux B.V. reviews, have problems. However, the PCB are integrated in key end-user product with more and more High Tech PCB. We are here to support you on the new technologies growth to maintain a high reliability and quality. Contact us to review it together.
RBVC, Ford and BMW invests in flexible electric circuit start-up Robert Bosch Venture Capital GmbH (RBVC), the venture capital company of the Bosch Group, announces that it has completed a series B follow-on investment in CelLink Corporation.
Alex Davern to step down as CEO of National Instruments NI has announced that Alex Davern will step down as Chief Executive Officer of the company, effective January 31, 2020. The NI Board of Directors has appointed current President and COO, Eric Starkloff, as NI President and CEO, effective February 1, 2020.
RoodMicrotec takes leading role in APPLAUSE A consortium of 31 key players for packaging of electronics, optics and photonics, equipment suppliers and testing experts from 11 countries launched a new project, “Advanced packaging for photonics, optics and electronics for low cost manufacturing in Europe,” simply called APPLAUSE.
Sponsored content by Nordson ASYMTEKStart-to-finish conformal coating with reliability and efficiency Nordson ASYMTEK’s flexible, modular, Panorama™ S-Line delivers conformal coating process control in a space-saving footprint with overlapping line processes that minimize manufacturing floor space. This innovative, patent-pending line layout trims 50% of the line’s length by using the lower compartment in each piece of equipment for functional use. Combined with Nordson ASYMTEK’s global support, this complete conformal coating line delivers quality, product reliability, efficiency, and safety for all your conformal coating applications.
Nidec provides an update on its Omron deal Nidec Corporation previously announced a plan to acquire Omron Automotive Electronics from Omron Corporation back inn April, 2019.
GlobalFoundries and TSMC bury the hatchet GlobalFoundries and TSMC says that the companies are dismissing all litigation between them as well as those that involve any of their customers.
Lite-On shareholders approve the Diodes deal Lite-On Semiconductor held a special meeting for its shareholders on October 25, 2019 during which the proposed acquisition by Diodes and the associated Share Swap Agreement were approved.
Coming soon to a sky near you: Volocopter Micron Ventures, the investment arm of Micron Technology Inc., has led a USD 55 million Series C investment round in urban air-mobility (UAM) pioneer Volocopter.Load more news