Lilium, the Munich-based aviation company developing an all-electric, vertical take-off and landing aircraft for regional air mobility (earlier post), completed an internal funding round worth more than $240 million. The round was led by Tencent, with participation from other existing investors including Atomico, Freigeist and LGT.
The all-electric Lilium Jet is a tilt jet aircraft with 36 engines mounted on its flaps. Low vibrations ensure a smooth and quiet ride for passengers, and the small size of the engines means they’re suited to efficient cruise flight. With zero operational emissions and record-breaking power-to-weight and thrust-to-noise ratios, they are the first electric jet engines in commercial certification.
The new funds bring the total sum raised to date to more than $340 million. 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 completed 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. The new funds will enable us to take big strides towards our shared goal of delivering regional air mobility as early as 2025.—Christopher Delbrück, Chief Financial Officer, Lilium