German air taxi startup Volocopter has filed for insolvency as it struggles to secure funding for its two-seater Volocity aircraft. Despite financial challenges, the company plans to continue operations and remains optimistic about finding investors by early 2025. Volocopter aims to finalise European certification and launch its market entry within two years.
The firm has made significant progress toward regulatory approval but faces hurdles, including a cancelled test flight at the Paris Olympics. It is also developing a five-seater model for 2027.
Volocopter’s troubles follow the recent rescue of competitor Lilium, sparking debate over startup support in Germany.
