Aviation Company Lilium Raises $240 Million In Funding

Aviation Company Lilium Raises $240 Million In Funding

by NeoTech Post

Lilium, a Munich-based aviation company, developing an all-electric, vertical take-off and landing aircraft for regional air mobility, announced the completion of a funding round worth more than $240 million. 

The funding round was led by Tencent, with participation from existing investors, including Atomico, Freigeist, and LGT.

Lilium has raised more than $340 million to date. According to the company, the new funds will support further development of the Lilium Jet as well as underpinning preparations for serial production in Lilium’s newly-completed manufacturing facilities.

Lilium is an aviation company developing an emissions-free regional air mobility service. The company has designed and prototyped the Lilium Jet, a brand-new type of aircraft. The aircraft first flew in May 2019 and is a five-seater, fully-electric aircraft that can take-off and land vertically (eVTOL). Lilium expects to service a sizeable global market demand by connecting communities at a fraction of the cost of conventional high-speed infrastructure, with zero operating emissions.

David Wallerstein, Chief eXploration Officer, Tencent, said: “Over the last few years we’ve had the opportunity to see the professionalism and dynamism with which Lilium are approaching their mission and we’re honored to be supporting them as they take the next steps on their journey.”

Christopher Delbrück, Chief Financial Officer, Lilium, said: “The new funds will enable us to take big strides towards our shared goal of delivering regional air mobility as early as 2025.”

Image Credit: Lilium