Finance
German air taxi start-up Volocopter files for insolvency
Published by Global Banking & Finance Review®
Posted on December 30, 2024
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 30, 2024
1 min readLast updated: January 27, 2026
Volocopter GmbH, a German air taxi start-up, filed for insolvency due to funding issues. The company plans to continue operations while seeking new investments.
(Reuters) - Air taxi start-up Volocopter GmbH filed for insolvency proceedings on Monday, citing its inability to raise new funds to maintain regular operations.
The Mercedes-Benz and Honeywell-backed company plans to continue business operations during the insolvency proceedings while seeking additional funding.
"Despite recent intensive fundraising efforts, finding a viable solution to maintain regular operations outside of insolvency proceedings has not been possible," the Bruchsal, Germany-based firm said.
The electric vertical takeoff and landing (eVTOL) industry is facing a financial crunch, with companies persistently seeking new investments to support their capital-intensive operations as companies prepare for commercial operations.
In November, peer Lilium said it would file for insolvency "soon", after failing to resolve its financial difficulties.
Founded in 2011, Volocopter was scheduled to enter the market in 2025 with its urban eVTOL, the VoloCity.
(Reporting by Anshuman Tripathy in Bengaluru; Editing by Tasim Zahid)
The main topic is Volocopter GmbH filing for insolvency due to its inability to secure new funding, impacting the eVTOL industry.
Volocopter filed for insolvency because it could not raise new funds to maintain regular operations despite intensive fundraising efforts.
Volocopter plans to continue business operations while seeking additional funding during the insolvency proceedings.
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