Joby Aviation has taken the wraps off its S4 eVTOL and announced $590 million in Series C funding, including a $394 million investment by Toyota Motor Corp.

The financial data company PitchBook expects “mega-deals” for Joby Aviation and Lilium, which could drive VC investment in eVTOL air taxis to new levels.

U.S. authorities have approved a $25 million investment by South Korea’s Hanwha Systems in a Karem Aircraft spinoff venture, Overair.

Volocopter has received another 50 million euros of investment in a funding round led by Geely Holding, which also wants to bring eVTOL air taxis to China.