Tencent has been on board at Lilium since 2017. The group has supported several financing rounds for the Munich-based company since then, including the capital increase of 107.5 million euros (119 million dollars) that took place at the end of last year. Now another 90 million euros are to follow. In addition, there is a commitment from Tencent for a further 67.5 million euros (75 million dollars), provided that Lilium succeeds in raising the same amount from other investors. This would bring the startup to the targeted 225 million euros.
Klaus Roewe, CEO of Lilium, explains:
“The capital increase announced today represents an important development in our ongoing mission to revolutionize the aviation industry. We are pleased to be able to continue our development program at full speed with this financing. We continue to be in numerous constructive conversations with existing and potential new investors. We hope to be able to announce further updates soon.”
Potential customers to secure further financing for Lilium
The funds will continue to flow into the development of Lilium’s air taxi. In addition, the Munich-based company wants to “cover the majority of the estimated capital requirement for the first manned flight,” as stated in a press release. This is expected to take place by the second half of 2024. After that, deposits from potential buyers are to secure further financing.
Lilium has already won several potential customers: Saudia, Saudi Arabia’s national airline, wants to acquire 100 Lilium jets, ASL Group is building an air transit network in the Benelux countries with six jets, and Helity Copter Airlines wants to deploy five of the aircraft in Andalusia. In southern France and Italy, Globeair also plans to use 12 of the jets.
Lilium was founded in 2015 from the Technical University of Munich and develops what is known as an eVTOL aircraft that takes off and lands vertically entirely on electric power. In 2021, the startup went public on the US technology exchange Nasdaq through a merger with a Special Purpose Acquisition Company (SPAC). In the process, the air taxi company secured around 496 million euros (584 million dollars).
