Skyports raises $110mn in Series C round led by ACS

Skyports, the global leader in owning and operating vertiport infrastructure and flying electric drones, announced that ACS Group, an infrastructure and construction company, has made a substantial equity investment in the company to become its largest investor.

ACS Group, which generated revenue of $39 billion in 2023, has invested via its wholly-owned infrastructure development/concessions business Iridium Concesiones de Infraestructuras S.A., (IRIDIUM), focused on sustainable and innovative transportation solutions, according to a press release from Skyports.

Duncan Walker, CEO and Co-founder, Skyports, 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.”

The capital will support key developments on both sides of Skyports’ business, the release added. Skyports Infrastructure, which earlier this year announced the signing of 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. Skyports Drone Services will continue to build on its existing services, including the recently launched offshore energy asset deliveries, medical deliveries, linear asset inspections and water quality monitoring services.

Existing shareholder, Paris-based airport operator Groupe ADP, will invest additional capital in Skyports’ Series C funding round. Groupe ADP and Skyports first partnered during Skyports’ Series A funding round in 2019.

Nuria Haltiwanger, CEO, IRIDIUM, will join the Skyports board as chairperson. Ramon Villaamil and Vicente Maraña will also join the board, the release added.

Haltiwanger says: “We are proud of our new partnership with Skyports, the leader in vertiport development, and the role we will be able to play in the new and growing advanced air mobility (AAM) market. We are eager to bring our knowledge of large-scale infrastructure development and construction to help grow Skyports and the overall AAM market. We are looking at how Skyports Drone Services’ expertise will help us to bring further efficiencies to our existing asset management, construction and mining businesses in the group. This investment in Skyports is a critical step in our strategy of further expansion in new generation infrastructure, particularly in sustainable mobility.”