Europe

Skyports raises over $110 million, led by new ACS Group investment

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Skyports raises over $110 million, led by new ACS Group investment
Infrastructure and construction company ACS has become the biggest investor in Skyports following a ‘substantial equity investment’ in the vertiport infrastructure developer, with Paris-based airport operator Groupe ADP also contributing to Skyports’ Series C funding round. ACS Group has invested in Skyports via its wholly-owned infrastructure and concessions business Iridium Concesiones de Infrastructuras (IRIDIUM), which Skyports explains will ‘support key developments’ across both of Skyports’ business. Skyports Infrastructure (in collaboration with the Roads and Transport Authority of Dubai, and Joby Aviation)  will use the investment to build its vertiports ahead of the launch of Dubai eVTOL services by 2026. Skyports Drone Services will also ‘continue to build’ on existing programmes including offshore energy asset deliveries, medical deliveries, linear asset inspections and water quality monitoring services. Additionally, further investment from existing shareholder ADP “serves as an endorsement of Skyports’ initiatives and underscores the immense potential of the market,” highlighted Duncan Walker, CEO and co-founder of Skyports. He added that “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”.