Lilium, the Munich-based aviation company, has announced the completion of internal funding round worth more than $240 million (approx €224 million). The round was led by Tencent, with participation from other existing investors, including Atomico, Freigeist, and LGT. This brings the total fundraised to more than $340 million (approx €318 million).
The German company is planning to use the funding to support further development of the Lilium Jet as well as underpinning preparations for serial production in Lilium’s newly-completed manufacturing facilities.
As well as designing and manufacturing the Lilium Jet, the company plans to operate a regional air mobility service as early as 2025 in several regions around the world.
Christopher Delbrück, Chief Financial Officer, Lilium, said:
This additional funding underscores the deep confidence our investors have in both our physical product and our business case. We’re delighted to be able to complete an internal round with them, having benefited greatly from their support and guidance over the past few years.
Co-founded in 2015 by four visionary engineers, Daniel Wiegand (CEO), Sebastian Born, Matthias Meiner, and Patrick Nathen, Lillium has designed and prototyped the Lilium Jet, a five-seater, fully-electric aircraft that can take-off and land vertically (eVTOL). Lilium is headquartered in Munich and currently employs more than 400 people.
David Wallerstein, Chief eXploration Officer, Tencent, said:
At Tencent, we’re committed to supporting technologies that we believe have the potential to tackle the greatest challenges facing our world. 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.
Main image credits: Lilium
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