Munich-based aviation startup Lilium is known for its all-electric, vertical take-off and landing aircraft for regional air mobility. In a recent move, this air taxi startup announced that it secured an additional investment of $35 million (nearly €30.1 million) from Baillie Gifford, its new investor. Notably, this new investor has a track record of investing in high-impact tech companies such as Tesla, Amazon, Airbnb, SpaceX, and Spotify.
Lilium surpasses $1b valuation!
This investment comes just three months after Lilium raised $240 million (nearly €211.2 million) led by existing investors Atomico, LGT, Freigeist, and Tencent. With this new investment, the overall investment in the current funding round extends to over $275 million (nearly €242 million). And, the overall investment raised by the German air taxi startup goes to over $375 million (nearly €330 million).
What’s interesting is that this additional investment makes Lilium one of the most valuable and highly capitalised aviation companies with a valuation of $1 billion.
Eyes to ramp up serial production
Lilium will use these funds to support the development of Lilium Jet and underpinning preparations for the serial production at its newly completed manufacturing facilities.
Commenting on the new investment, Christopher Delbrück, Chief Financial Officer, Lilium, said, “Baillie Gifford is one of the world’s most influential tech investors and their commitment to Lilium represents a significant vote of confidence in both our physical product and our business case. We look forward to working closely with Baillie Gifford as we seek to bring emissions-free, regional air mobility to the market as early as 2025.”
Commenting on their investment, Michael Pye, Investment Manager at Baillie Gifford, said, “We are delighted to support the remarkable team at Lilium in their ambition of developing a new mode of transport. While still at an early stage, we believe this technology could have profound and far-reaching benefits in a low-carbon future and we are excited to watch Lilium’s progress in the years ahead.”
Air taxi to go live by 2025
Lilium was established in 2015 by Daniel Wiegand, Sebastian Born, Matthias Meiner and Patrick Nathen in Munich. Back in 2019, the company revealed the prototype of its five-seater electric air taxi, which completed its maiden flight over Germany. The Lilium Jet can fly at up to 300 km/h and a range of 300km. The company aims to make its all-electric air taxi operational across the world by 2025.
Main image picture credits: Lilium
Stay tuned to Silicon Canals for more European technology news.
