Air Taxi Startup Volocopter, Backed By Saudi Crown Prince MBS And Mercedes, Crashes Into Bankruptcy After Raising $544 Million In 10 Years
The dream of flying taxis just hit a big roadblock. Volocopter, a German company making electric air taxis, has gone bankrupt. Over 10 years, the company raised $544 million from investors like Saudi Crown Prince Mohammed bin Salman, Mercedes-Benz and Intel. However, the company struggled to secure the additional funding needed to stay operational and filed for bankruptcy. Volocopter's Promising Vision Founded in 2011, Volocopter has been a leader in urban air mobility (UAM), designing electric
