Germany's Volocopter GmbH Files for Insolvency While Seeking Investors

Germany' Volocopter GmbH has filed an application for the opening of insolvency proceedings. The company states that 'despite recent intensive fundraising efforts, finding a viable solution to maintain regular operations outside of insolvency proceedings has not been possible'.

Volocopter is a pioneer of urban air mobility (UAM), developing safe, quiet, and sustainable all-electric vertical take-off and landing (eVTOL) aircraft, and an infrastucture that connects aircraft, infrastructure, and operators, the VoloIQ.

Founded in 2011, the startup company is nearing the finish line to obtain aircraft type certification and launch its urban eVTOL, the VoloCity.

The company aims to enter the market in 2025 following VoloCity's successful certification by the European Union Aviation Safety Agency (EASA).

Numerous successful financing rounds have driven the company's development and operations in the past. 

Dirk Hoke, CEO of Volocopter, says:  “We are ahead of our industry peers in our technological, flight test, and certification progress. That makes us an attractive company to invest in while we organize ourselves with internal restructuring.”

Volocopter has diverse investors, including Geely, NEOM, Mercedes-Benz Group, Intel Capital, and BlackRock.