The company has set its sights on commercially launching the battery-operated VoloCity air taxi in 2023. Volocopter has a number of rivals in the air taxi space, including Silicon Valley startup Joby Aviation, which is planning a public filing via a $6.6 billion SPAC deal. VoloCity is also competing in the space with Lilium, a German air taxi startup with a fixed-wing design that is reportedly better equipped to handle longer intercity rides. Lilium also is reportedly looking into going public via a SPAC. "What's most important is that you always have enough funds to implement your strategy, full throttle," Reuter told the news outlet regarding competitors. Volocopter's Series D funding round earlier in March had participation from new and existing investors, including BlackRock, Tokyo Century, Avala Capital, Continental AG, Atlantia S.p.A., Nippon Telegraph and Telephone Corporation (NTT) and others.