German air-taxi startup Lilium closes €114M capital raise post-IPO: Know more here

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Munich-based Lilium, the developer of the first all-electric vertical take-off and landing (“eVTOL”) aircraft, announced on Wednesday, November 23, that it has closed $119M (approximately €114M) in funding in a concurrent private placement and registered direct offering (RDO).

The latest round saw participation from Honeywell and Aciturri as well as LGT and its affiliate Lightrock, Tencent, B. Riley Securities, and certain affiliates thereof. Lilium’s new CEO, Klaus Roewe, and three additional board members, Barry Engle, David Wallerstein, and Niklas Zennström, also participated.

The German company will use the funds to continue to support its operations, develop the Lilium Jet, and for general corporate purposes, which according to the company, may include payment of Lilium’s suppliers and working capital uses.

“We are pleased to have such a high-quality group of supporters in a challenging macro environment. These proceeds are expected to strengthen our balance sheet and advance our commercialisation efforts, including signing customer agreements with pre-delivery payments, reaching an agreement with EASA on our Means of Compliance, and commencing assembly of the type-conforming aircraft for the final manned flight test campaign,” says CEO Klaus Roewe.

Stéphane Fymat, Vice President and General Manager of Urban Air Mobility, Honeywell Aerospace, says, “Honeywell and Lilium share a common vision of the importance of electric aviation and its positive impact on air transportation and decarbonisation. We are proud to partner with Lilium as the provider of the avionics systems, flight controls, and electric motors used to guide and power Lilium’s revolutionary electric jet.”

The announcement comes a year after Lilium began trading on NASDAQ through a merger with a Special Acquisition Company (SPAC) — Qell Acquisition Corp.

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Lilium: What you need to know

Founded by Daniel Wiegand, Sebastian Born, Matthias Meiner, and Patrick Nathen in 2015, Lilium is creating a sustainable and accessible mode of high-speed, regional transportation for people and goods.

Using its 7-Seater Lilium Jet, Lilium’s regional shuttle service will enable sustainable, high-speed transportation. 

The jet is capable of quiet vertical take-off to allow access to more landing sites and the opportunity to build higher network density, avoiding the need for expensive ground infrastructure.

Working with aerospace, technology, and infrastructure leaders, Lilium employs around 800+ people, including approximately 450 aerospace engineers. The company has manufacturing facilities in Munich, Germany, with teams across Europe and the US.

The company claims that its leadership team was previously responsible for developing and delivering some of the most successful and complex aircraft in aviation history, including the Airbus A320, A350, and A380, Eurofighter Typhoon, Gulfstream G650, and Harrier VTOL.

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