Things are going well for the electric aircraft startup Lilium Aviation this year: After successfully completing the first test flights with a two-seater jet in the spring, the startup based in Gilching near Munich can now also announce the very successful completion of its Series B financing round.
The vision: An electric aircraft for personal transportation. And Lilium Aviation has likely taken a significant step closer to realizing this vision after completing its Series B financing round, having raised $90 million. Investors now include the Chinese internet giant Tencent, the Liechtenstein private bank LGT, and the VC Obvious Ventures, founded by Twitter co-founder Ev Williams. Previously, the London investment company Atomico of Skype co-founder Niklas Zennström and Frank Thelen's company e42 had already invested in the Munich-based company.
The fresh investment will be used for the further development of a five-seater, which will then – according to the vision – also be used as Air Taxi can be used. Furthermore, the team, which currently consists of around 70 employees, is expected to grow significantly.
“Mobility options that can benefit people around the world”
Co-founder and CEO Daniel Wiegand is glad:
"This investment is a tremendously important step for Lilium as it enables us to make the five-seat jet a reality. This is the next stage in our rapid evolution from an idea to the production of a commercially successful aircraft that will revolutionize the way we travel in and around the world's cities. It makes Lilium one of the best funded electric aircraft projects in the world. Our backers recognize that Lilium's innovative eVTOL technology puts us in the lead in this exciting new industry, with no other company promising the economy, speed, range and low-noise levels of the Lilium Jet.”
And David Wallerstein, Chief Exploration Officer of Tencent, said:
"Transportation technologies play a fundamental role in structuring our everyday lives. Lilium's electric powered eVTOL aircraft offers new mobility options that can benefit people around the world. From under-developed regions with poor road infrastructure, to the developed world with traffic congestion and sprawl, new possibilities emerge when convenient daily flight becomes an option for all of us. Lilium offers a substantial and environmentally-friendly transportation breakthrough for humanity."
