Lilium eVTOL raised $90 million Series B

Lilium GmbH raised US$90 million in Series B funding. Electric mini-jet startups headquartered in Munich that have successfully tested vertical take-off and landing (VTOL) aircraft with two passengers and five passengers getting the latest funding led by the Chinese internet giant, Tencent Holdings. Other investors are LGT, Atomico and Obvious Ventures.

Tinuku Lilium eVTOL raised $90 million Series B

Lilium was founded by four Technical University of Munich scholars in 2015 to build a mini aircraft that has two patents as well as a VTOL aircraft and a plane that takes off and lands on the runway. The mini jet is designed to fly at a speed of 187mph for an hour with a single battery charge.

The previous funding of US$10 million meant they had raised a total of US$100 million. Series B funding comes from Chinese technology giant Tencent, Skype billionaire Niklas Zennström, and Twitter founder Evan Williams through Obvious Ventures.

"We have very crowded cities where we can do things to improve," said Lilium COO, Remo Gerber.

Gerber and his colleagues imagine a fleet of taxis gliding across a dense metropolis that utilizes the sky's landscape. The latest funding will help speed that aspiration and allow Lilium to expand recruiting more employees.

"Lilium has demonstrated its leadership in the eVTOL industry and transformative technology in a generation that will have seismic, positive impacts for the world for future generations," Zennström said.

"This latest recent investment gives Lilium a number of capital and resources to accelerate commuter development for commercial success that will change the way we travel and help solve some of the big challenges of the times," Zennström said.