The current financing for Lilium is divided into several phases. Initially, Tencent announced a Financial injection of 89 million euros (100 million dollars). The tech company pledged to invest an additional 67 million euros (75 million dollars) if Lilium succeeds in raising the same amount from other investors.
The air taxi company has now apparently succeeded. According to Lilium, it raised €67 million ($75 million) through the placement of additional shares. In addition, Earlybird Venture Capital, BIT Capital, UVC Partners, Frank Thelen, and several board members and senior executives invested an additional €37 million ($42 million). Tencent then released the additional €67 million tranche, as agreed in May. This investment, like the previous financing, will be handled through the Tencent subsidiary Aceville.
Potential customers should secure further financing for Lilium
At the conclusion of the first part of this financing, Lilium declared that this would cover the capital requirements until the first manned flight. This is scheduled to take place by the second half of 2024. Subsequently, down payments from potential buyers will secure further financing. The Munich-based company has already convinced several of these companies: Saudia, the national airline of Saudi Arabia, plans to purchase 100 Lilium jets; the ASL Group plans to establish an air transit network in the Benelux countries with six jets; and Helity Copter Airlines plans to operate five of the aircraft in Andalusia. Globeair also plans to operate 12 of the jets in southern France and Italy. The Chinese company Heli-Eastern also plans to purchase 100 Lilium jets.
Lilium was founded in 2015 out of the Technical University of Munich and is developing a so-called eVTOL aircraft with fully electric vertical takeoff and landing. In 2021, the startup went public on the US technology exchange Nasdaq through a merger with a special purpose acquisition company (SPAC). The air taxi company secured approximately €496 million ($584 million).
