D3 Technologies plans pilot urban air mobility platform in 2021 following seed funding announcement
Munich-based Urban Air Mobility (UAM) start-up D3 Technologies has announced the completion of its seed II funding round. Mobility players such as Vector Venture Capital GmbH as lead investor, SEK Ventures GmbH (founders of Flixbus), EIT KIC Urban Mobility, S.L (an initiative of the European Institute of Innovation and Technology) and Mutschler Ventures AG are participating in the round of a total of EUR2.9 million.
D3 Technologies, the deep tech start-up is developing integrated traffic management system for urban aviation. The goal is to provide the control infrastructure that enables the use of urban airspace as an additional transport modality, as planned for in the coming years by cities and drone manufacturers. According to estimates, the market for air taxis (VTOLs) will develop rapidly. A recent Roland Berger study predicts that up to 160,000 commercial air taxis will be in use by 2050. The UAM passenger industry will then generate revenues of almost USD 90 billion per year.
The investment will enable the startup to build the first pilot application in 2021 in order to test its air traffic management solution. In 2022, D3 will equip first model regions with ground station, communication solution and on-board blue box (avionics).
The founders expect the first commercial use case involving the transportation of people in 2024.
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