Atomico signs €10m series-A for Lilium Aviation

As part of the deal, Atomico's founder and CEO, Niklas Zennström, will join the company's management board of directors.

According to a statement, the company aims to use the fresh capital to commercialise its product as well as expand its team. The management team expects to start flying tests of the first jet prototype in early 2017.

Previous funding
In June 2016, the business raised an initial seed round of funding from German high-net-worth individuals.

Company
Based in Munich, at the European Space Agency's Business Incubator Centre Bavaria, Lilium develops an electrically powered lightweight commuter plane, capable of vertical take-off and landing. Lilium's jet has an estimated range of up to 300 km and cruising velocity of up to 300 km/h, carrying two passengers and putting out zero emissions, the company claims.

Established in 2015, the pre-sales business currently employs a staff of 35.

People
Atomico – Niklas Zennström (founder, CEO).
Lilium Aviation – Daniel Wiegand (CEO).

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• Topics
• Early-stage
• Industrials
• DACH
• Venture
• Germany