“Air-mobility solutions could transform commutes, package delivery, and other mundane tasks in ways that would have seemed impossible only a few years ago, producing repercussions that go far beyond transport,” says a recent report from McKinsey & Company.

Jameel Investment Management Company (JIMCO), our investment arm, recently announced its participation in a Series C round of funding for Joby Aviation, an US-based start-up developing a piloted, all-electric, vertical take-off and landing aircraft to provide air taxi services in key cities across the globe.

JIMCO joined the round as a new investor alongside Toyota Motor Corporation (TMC), a long-term business partner of Abdul Latif Jameel, and lead investor in Joby’s Series C funding, and Baillie Gifford. Adding to new and prior investments by SPARX GroupIntel CapitalCapricorn Investment GroupJetBlue Technology Ventures8VCToyota AI Ventures, and AME Cloud Ventures, the latest investment round brings Joby Aviation’s total funding to $720 million – making it the best-funded electric vertical take-off and landing (eVTOL) start-up globally.

The move is in line with Abdul Latif Jameel’s strategy of making high-stakes investments in the future of mobility. Abdul Latif Jameel has a strong track record as a value-adding investor – supporting innovative start-ups in the evolving mobility industry, and by bringing long-standing regional expertise and access to a global network of partners.

Read the original press release here

Read the full McKinsey & Company report here.