Skyports has received a “substantial” equity investment from infrastructure and construction company ACS Group, which has become the vertiport developer’s largest investor.
The capital will support developments on both sides of Skyports’ 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 build on its existing services, including recently launched offshore energy asset deliveries, medical deliveries, linear asset inspections and water quality monitoring services.
In addition to the new capital invested by ACS, existing shareholder Paris-based airport operator Groupe ADP will invest additional capital. Groupe ADP and Skyports first partnered during Skyports’ Series A funding round in 2019. The two companies have collaborated on notable infrastructure projects with the aim of advancing the development of vertiport technology and operations, including the first European vertiport testbed in Paris, which was inaugurated in November 2022. In total, Skyports achieved $110 million investment during the Series C capital fundraising initiative.
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 world-class transport infrastructure leader serves as an endorsement of Skyports' initiatives and underscores the immense potential of the market. Having ACS INFRA as a substantial shareholder in the company, together with their significant cash investment, puts Skyports in a market leading position, which will allow us to continue growing and enabling new aviation services.”
IMAGE CREDIT: Skyports
