German Flying Taxi Startup Volocopter Files For Insolvency

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Flying taxi startup Volocopter said Monday it was filing for insolvency, days after another fellow German company in the field, Lilium, was saved from collapse.

“Despite recent intensive fundraising efforts, finding a viable solution to maintain regular operations outside of insolvency proceedings has not been possible,” Volocopter said in a statement, adding that the filing was made on December 26.

The company, founded in 2011, is now on the hunt for investors, and court-appointed administrator Tobias Wahl said that the aim was “to develop a restructuring concept by the end of February”.

Volocopter had been aiming to enter the market in 2025 with its two-seater “Volocity” electric…