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 air taxi model.
It suffered a setback when it had to cancel…
