Having previously reported in May 2024 that German air mobility developer Volocopter had announced that they were in financial difficulties, we can now confirm that they filed for insolvency proceedings on 30 December 2024. 

Volocopter GmbH, a German air mobility startup backed by Mercedes-Benz and Honeywell, filed for insolvency on December 30, 2024, citing unsuccessful fundraising efforts. The company plans to maintain operations during proceedings while pursuing additional funding opportunities to sustain its business. Volocopter had ambitious plans to launch its urban air taxi, the VoloCity, in 2025.

The insolvency highlights the financial pressures in the emerging eVTOL industry, where commercialisation remains costly and uncertain. Volocopter’s future depends on its ability to attract new investment while navigating the complex landscape of urban air mobility innovation.

​German air taxi start-up Volocopter files for insolvency | Reuter

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Huboo has been rescued from administration through a buy-out by an investor consortium led by Baaj Capital and Atalla Capital. The company, known for its eCommerce fulfilment services and sponsorship of Bristol's sports teams, employs 600 people and operates across Europe. The buy-out promises a “new chapter of growth” for the company.

Founded in 2017, Huboo grew rapidly, especially during the pandemic, by offering tech-enabled solutions for online order fulfilment. However, the company faced operational disruptions and financial challenges leading up to Christmas 2024, with clients reporting delayed deliveries and a pre-insolvency warning issued. On Christmas Eve, Huboo announced it had entered administration but secured a rescue deal.

The investment consortium plans to support Huboo’s expansion in the UK and Europe, aiming to capitalize on the growing eCommerce market projected to reach $8.09 trillion by 2028. Co-founder Paul Dodd assured stakeholders the investment would safeguard jobs and partnerships while positioning Huboo as a leading logistics partner for merchants and brands.

Source: Bristol Live

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