German eVTOL start-up Volocopter files for insolvency, seeks investors for restructuring plan 

Germany-based electric vertical take-off and landing (eVTOL) aircraft manufacturer, Volocopter, has filed for insolvency while actively seeking new investors to secure the future of its advanced flight project. 

The company submitted an application for insolvency proceedings at the Karlsruhe Local Court on 26 December 2024. 

The court began the process the following day, appointing Tobias Wahl, partner and an attorney at Anchor Rechtsanwältegesellschaft, as administrator.  

Volocopter’s CEO, Dirk Hoke, recently held a staff meeting to inform employees of the situation and outlined efforts to attract potential investors. 

In an official statement, Volocopter acknowledged that despite significant fundraising efforts, it was unable to maintain regular operations outside of insolvency proceedings. 

“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 organise ourselves with internal restructuring,” Hoke stated.

On his part, Whal said, “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.”

Founded in 2011, Volocopter plans to continue operations during the provisional insolvency proceedings. 

The company remains focused on achieving aircraft certification from the European Union Aviation Safety Agency (EASA) and launching its eVTOL services by 2025.  

Furthermore, Volocopter’s financial difficulties echo a similar situation faced by fellow German eVTOL developer Lilium. 

In October 2024, Lilium filed for bankruptcy protection for two of its subsidiaries.  

However, on 24 December 2024, Lilium announced a rescue agreement with Mobile Uplift Corporation, a consortium of European and North American investors.