On April 17, 2024, Skyports announced that it has raised over $110 million with the closing of its Series C funding round.
Spanish construction and infrastructure management group ACS Group has led this round through one of its subsidiaries, Iridium Concesiones de Infraestructuras S.A., which specializes in mobility and transportation innovation investments.
Groupe ADP has also participated in this round, adding to its existing stake in the vertiports company. The Paris-based airport management group has been an investor in Skyports since the startup’s Series A in 2019.
Skyports intends to use this fresh capital for the development of its future vertiport network in Dubai. Dubai’s strategic plan calls for the establishment of an advanced air mobility route network. Starting in 2026, it will link several key transportation nodes throughout the emirate, and, at a later stage, other parts of the UAE.
The Roads and Transport Authority of Dubai (RTA) and Joby Aviation are partners of Skyports in this project, with the US eVTOL developer holding the exclusive right to operate in the emirate for a period of six years.
