The Briefing: Volocopter Lands $240M, Sofinnova Closes $540M Fund, And More

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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Volocopter raises $240M for electric air taxis

Germany’s Volocopter, a developer of battery-powered electric air taxis, announced that it raised  200 million euros ($240 million) in an oversubscribed Series D funding round.

The latest round, backed by a long list of new and existing investors, brings total funding to date for the 10-year-old company to 322 million euros.

Volocopter says it is in the final stages of providing its air transit services for cities around the world. TechCrunch reports that the company expects live services are now two years out for the two vehicle models it has been developing.

— Joanna Glasner

New Funds

Soffinova closes $540M crossover fund: Paris-based venture capital firm Sofinnova Partners has closed on a  445 million euro ($540 million) new fund, called the Sofinnova Crossover Fund, which will target  late-stage biopharma and medtech investments. The fund will focus on European clinical-stage companies and will also support companies in the U.S. and elsewhere.

— Joanna Glasner

Funding rounds

Cutover raises $35M for digital orchestration: London-based Cutover, a platform for enterprises to oversee digital transformations, announced it has raised $35 million in a Series B round led by Eldridge.

— Joanna Glasner

Illustration: Dom Guzman

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