Swedish drone-based delivery services provider Aerit has filed for bankruptcy citing the company's inability to secure funding for continued operations amidst economic difficulties. The company has appointed administrators to oversee the process.

Aerit's assets, including its drone hardware and software, will be offered for sale.

Analyst QuickTake: Despite being a pioneering drone-based delivery services provider in Sweden, and strategic partnerships with notable companies like Foodora and Tele2, Aerit's failure to secure necessary funding highlights the harsh financial conditions facing the drone delivery sector, particularly in challenging economic climates. Earlier this year, US-based drone delivery startup Skydrop also filed for bankruptcy following a challenging period of financial difficulties and extensive efforts to find sustainable solutions.