Lilium, the Munich-based aviation company developing an all-electric, vertical take-off and landing aircraft for regional air mobility, announced the completion of an internal funding round worth more than $240m (Euros 215m).
The round was led by Tencent, with participation from other existing investors including Atomico, Freigeist and LGT.
The new funds bring the total sum raised to date to more than $340m (Euros 304m). They will be used 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. It recently celebrated the completion of the first stage of flight testing, with the five-seater Lilium Jet demonstrator flying at speeds exceeding 100 km/h.
“This additional funding underscores the deep confidence our investors have in both our physical product and our business case. We’re very pleased to be able to complete an internal round with them, having benefited greatly from their support and guidance over the past few years,” said Christopher Delbrück, Chief Financial Officer at Lilium. “The new funds will enable us to take big strides towards our shared goal of delivering regional air mobility as early as 2025.”
Commenting on their role as lead investor for the internal round, 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.”
Lilium is an aviation company developing an emissions-free regional air mobility service. It has designed and prototyped the Lilium Jet, a brand-new type of aircraft that will enable it to deliver regional journeys that are considerably faster than rail or road, yet competitive in price. The demonstrator 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.
Co-founded in 2015 by four visionary engineers, Daniel Wiegand (CEO), Sebastian Born, Matthias Meiner and Patrick Nathen, Lilium has attracted more than $340m in funding from world-class investors such as Atomico, Tencent, LGT, Freigeist and Obvious Ventures. Lilium is headquartered in Munich and currently employs more than 400 people.