Another investment in the future of aviation continued this week when Lilium Aviation announced a successful round of funding, led by Chinese tech giant Tencent Holdings and at least four other groups. When added to the initial funding the German company Lilium has already received, the company’s investment kitty now tops the $100M mark. The company expects the fresh investment money will spur additional research and development efforts for the company’s five-seat, electrically powered jet taxi.
Lilium Raises $90M in New Funding Round
Key Takeaways:
- Lilium Aviation secured over $100M in funding, led by Tencent, to advance the research and development of its five-seat electric jet taxi.
- The company aims to launch a high-speed, electrically-powered air taxi service within 10 years, making it easily bookable via a smartphone app.
- Lilium's jet taxis feature vertical takeoff and landing capabilities, similar to a helicopter, and are designed for speeds up to 210 mph over nearly 200 nm.
- Their two-seat Eagle prototype has already completed a maiden flight, and the new funding will also support workforce expansion.
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