Skyports raises $110m in Series C to support Dubai air taxi operations
Skyports has raised just over $110m to support early air taxi operations in Dubai, thanks in part to new investment from ACS Group through its subsidiary Iridium.
The “substantial” equity investment from ACS makes it the largest investor in the company, the firm came in alongside retuning investors including Groupe ADP. The funds bring Skyports’ total raise to $140m.
The investment will also see Iridium CEO, Nuria Haltiwanger, join Skyports’s board as chairperson. Ramon Villaamil, chief risk officer at ACS, and Vicente Maraña, ACS’ chief operating officer, will also join the board.
Duncan Walker, CEO and co-founder of Skyports, said: “With ACS backing, we are in the best possible position to advance commercial air taxi and electric drone services around the world. Investment from a transport infrastructure leader serves as an endorsement of Skyports’ initiatives and underscores the immense potential of the market.”
Skyports said the capital will support key developments on both sides of its business. Skyports Infrastructure, which earlier this year announced the signing of an agreement with the Roads and Transport Authority of Dubai (RTA) and Joby Aviation, will use the funding to build out its vertiports ahead of the launch of air taxi services in Dubai by 2026.
Meanwhile, Skyports Drone Services will continue to build on its existing services, including recently launched offshore energy asset deliveries, medical deliveries, linear asset inspections and water quality monitoring services.
Nuria Haltiwanger, CEO of Iridium, said: “We are eager to bring our knowledge of large-scale infrastructure development and construction to help grow Skyports and the overall AAM market. We are looking at how Skyports Drone Services’ expertise will help us to bring further efficiencies to our existing asset management, construction and mining businesses in the Group. This investment in Skyports is a critical step in our strategy of further expansion in new generation infrastructure, particularly in sustainable mobility.”
As noted Paris-based airport operator, Groupe ADP is investing additional capital in Skyports’ Series C funding round. Groupe ADP and Skyports first partnered during Skyports’ Series A funding round in 2019. Since then, the pair have collaborated on a number of infrastructure projects with the aim of advancing the development of vertiport technology and operations, including the first European vertiport testbed in Paris.
