According to foreign reports, the German aerial taxi startup Volocopter has applied for bankruptcy, claiming it is unable to raise new funds to maintain normal operations. The startup stated that it plans to continue business operations during the bankruptcy process while seeking additional financing.

The startup was founded in 2011 and originally planned to launch its urban electric vertical takeoff and landing (eVTOL) vehicle VoloCity next year.

Volocopter's investors include the German automaker Daimler's Mercedes-Benz and the USA integrated tools company Honeywell (HON.US).