A week after Lilium was narrowly saved from closure by a last-minute investment agreement, German UAM startup Volocopter has announced that it too has entered insolvency proceedings and is seeking additional funding in order to sustain future operations. The annoucement is a further demonstration of the unforgiving character of the market as pressures mount on UAM startups to translate years of investment-driven developmental activities into a financially and commercially viable business model.
Volocopter had previously hoped to bring its VoloCity air taxi concept onto the market as soon as 2025, with the company working doggedly to imminently attain the relevant EASA certification. Volocopter has stated that it is seeking to formulate a restructuring strategy in concert with investors by February of next year, with the company intending to sustain regular operations during the intervening period.
