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Investment from ACS lifts Skyports funding above $110 million
The capital will support, among other things, the build out of vertiports ahead of the launch of air taxi services in Dubai by 2026.
Read this story in our May 2024 printed issue.

Skyports has received substantial equity investment from ACS Group via its wholly owned infrastructure development/concessions business Iridium Concesiones de Infraestructuras, which focuses on sustainable and innovative transportation solutions. The infrastructure and construction company, which in 2023 generated revenue of $39 billion, is now Skyports' largest investor.

The capital will support key developments on both sides of Skyports' business. Skyports Infrastructure, which earlier this year signed a tripartite 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 and continue to progress other markets. Skyports Drone Services will continue to build on its existing delivery services.

ACS Infrastructure, known for its innovative large-scale transport projects and focus on sustainable, inter-modal developments, aligns with Skyports' vision for the future of passenger and cargo transport. Notable projects in its portfolio include the Automated People Mover train at Los Angeles International airport and an extension to the metropolitan railway in Lima, Peru. The two companies will also explore how drone delivery and inspection services can be incorporated into ACS Group's substantial portfolio of infrastructure assets and construction and mining projects.

Existing shareholder, Paris-based airport operator Groupe ADP will invest additional capital in the Series C funding round. Groupe ADP and Skyports first partnered during Skyports' Series A funding round in 2019. Since then, the two companies have collaborated on notable infrastructure projects such as the first European vertiport testbed in Paris, which was inaugurated in November 2022.

The investment will see Iridium CEO Nuria Haltiwanger join the Skyports board of directors as chairperson. Ramon Villaamil and Vicente Maraña will also join the board.

Skyports CEO and co-founder Duncan Walker says: "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."

Iridium CEO Nuria Haltiwanger adds: "We are eager to bring our knowledge of large-scale infrastructure development and construction to help grow Skyports and the overall AAM market. This investment in Skyports is a critical step in our strategy of further expansion in new generation infrastructure, particularly in sustainable mobility."

Skyports has previously secured investment from companies across the aviation and infrastructure space, including Irelandia Aviation, Kanematsu and Deutsche Bahn Digital Ventures. Strategic partners include Archer, Beta, Joby Aviation, Vertical Aerospace and Volocopter. Skyports Drone Services works with the UK National Health Service, Equinor, UPS, Royal Mail, Wilhelmsen and the Port Authority of New York and New Jersey.

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