Lilium Aviation which held a successful test flight of their two-seat electric jet has recently announced that they have raised $90 million in their new round of financing. The investors include Tencent Holdings, LGT which is the investment vehicle of Lichtenstein’s royal family, Atomico. Atomico is a venture firm run by a founder of Skype and also Obvious Ventures. It is an investment firm cofounded by the Twitter co-founder.
Vision of Lilium Aviation
By focusing on their electric jet, the two-year old London based company is trying to stand out. Unlike their competitors, the design is believed to be more energy efficient. Also, as demonstrated, Lilium’s vehicle is designed to take off and lands vertically like a helicopter.
Lilium is also working on a five-seat version of electric car and call it “Air Taxi”. The air taxi could ferry passengers or cargo at a distance of 300 kilometers and can also reach a maximum speed 300kmph. “We’re trying to move from a niche transport vehicle to a mass-transport one,” Remo Gerber, Lilum’s chief commercial officer said. He also added that this cash infusion will allow Lilium to grow and expand beyond its team of 70 employees.
“From underdeveloped regions with poor road infrastructure, to the developed world with traffic congestion and sprawl, new possibilities emerge when convenient daily flight becomes an option for all of us,” said David Wallerstein, Tencent’s chief exploration officer.