Volocopter files for insolvency, struggles to secure funding; plans to continue operations amid financial challenges in eVTOL industry.
German air taxi start-up Volocopter GmbH has filed for insolvency proceedings, citing a lack of funds to sustain regular business operations.
The company received backing from notable investors, including Mercedes-Benz and Honeywell, but has been unable to secure additional financing.
Despite its insolvency status, Volocopter plans to continue its business operations as it seeks new funding opportunities.
The Bruchsal-based firm expressed that recent fundraising efforts did not yield a viable solution to avoid insolvency.
The electric vertical takeoff and landing (eVTOL) sector is currently experiencing financial difficulties, with many companies striving for investments to support their substantial operational costs.
Lilium, another firm in the eVTOL industry, has also announced plans to file for insolvency due to unresolved financial issues.
Founded in 2011, Volocopter aimed to launch its urban eVTOL vehicle, the VoloCity, in 2025.
The industry is facing significant challenges as companies prepare for commercial operations amid ongoing financial pressures.
