Lilium completes $240+ million funding round

Munich, Germany-based aviation company Lilium, which is developing an all-electric, vertical take-off and landing (VTOL) aircraft for regional air mobility, recently raised more than $240 million. The funding round was led by Tencent, with participation from other existing investors including Atomico, Freigeist, and LGT.

Lilium CFO Christopher Delbrück says, “This addi- tional funding underscores the deep confidence our investors have in both our physical product and our business case.”

Lilium plans to combine the new $240 million with $100 million from earlier investment rounds to support development and manufacturing of the Lilium Jet in the company’s newly completed manufacturing facilities.

Lilium plans to design and manufacture its jets and operate a regional air mobility service as early as 2025 in several regions globally. It recently celebrated completion of the first stage of flight testing, with the five-seater Lilium Jet demonstrator flying at speeds exceeding 60mph (100km/h). https://lilium.com

Raamsdonksveer, Netherlands-based PAL-V International B.V. has started European road certification tests for its Liberty flying car, which has already reached the final stage of air certification.

PAL-V CEO Robert Dingemanse says the Liberty will be delivered to pre-registered customers in 2021. The company has been developing a flying car since 2008 and created its prototype PAL-V One in 2012.

PAL-V recently teamed up with the Netherlands Aerospace Centre and has filed patents for an electrical vertical take-off and landing (eVTOL) vehicle as a competitive solution for the urban air taxi market.

Dingemanse says, “Before we see air-taxis in urban environments, we still have to wait another 10 years because of the many challenges like regulations, infrastructure, technology, noise, safety, city turbulence, and social acceptance.” https://www.pal-v.com