Volocopter, a Bruchsal startup focused in electric vertical take-off and landing (eVTOL) aircrafts, has filed for provisional insolvency after difficulty in finding further funding, marking a setback for the European eVTOL industry.
Founded in 2011, Volocopter gained widespread recognition for its innovative air taxi solutions and was often seen as a frontrunner in the race to bring urban air mobility to life. The insolvency comes amidst mounting financial pressures, highlighting the challenges faced by the nascent sector as it grapples with high development costs and regulatory hurdles.
Volocopter’s financial troubles were disclosed in an official announcement on December 30th, which cited the inability to secure further investment…
