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 has secured over $100M in total funding, with the latest round led by Tencent, to further develop its electric jet taxi.
- The company aims to launch a five-seat, high-speed electric air taxi service within 10 years, which would be orderable via a smartphone app.
- Lilium's jet taxi design takes off and lands like a helicopter, avoiding traditional quad-copter technology, and its two-seat "Eagle" prototype successfully completed its maiden flight.
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