"The company needs financing to take the final steps towards market entry. We will endeavour to develop a restructuring concept by the end of February and implement it with investors," explains Tobias Wahl.
"Despite recent fundraising efforts, it has been unable to find a viable solution to continue operations without facing insolvency," says the company.
"Business operations will continue as normal during the provisional insolvency proceedings," stated the administrator, ensuring stability for employees.
Founded in 2011 by Stephan Wolf and Alexander Zosel, Volocopter aims to build the ecosystem necessary to 'Bring Urban Air Mobility to Life' by cooperating with partners in infrastructure, operations, and air traffic management.
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