Volocopter, whose predecessor E-Volo may have invented the multi-copter concept, has filed for insolvency in Germany but is vowing to continue its certification bid. It intends to gain EASA certification for its VoloCity, and the insolvency will keep creditors at bay while it raises more money to cross that finish line. “We are ahead of our industry peers in our technological, flight test, and certification progress,” CEO Dirk Hoke said in a news release. “That makes us an attractive company to invest in while we organize ourselves with internal restructuring.”
Hoke defended the company’s financial record thus far, noting that it has successfully raised hundreds of millions of dollars in capital since it was founded in 2011. “With…
