Lilium completes funding round worth more than US$240 million

©Lilium Jet

Lilium, the Munich-based aviation company developing an all-electric, vertical take-off and landing aircraft for regional air mobility, has completed an internal funding round worth more than US$240 million. 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 US$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 celebrated the completion of the first stage of flight testing, with the five-seater Lilium Jet demonstrator flying at speeds exceeding 100 km/h.

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