Atomico in $90m series-B for Lilium

Chinese investment firm Tencent, banking group LGT and Obvious Ventures also took part in the round.

The fresh funding will be used to develop a five-seat commercial aircraft. It will also be used for recruitment.

Lilium has now raised more than $100m in two institutional funding rounds and a seed financing, according to unquote" data.

Investors were attracted to the vertical take-off and landing capabilities that Lilium has developed. The company completed its first test flight in April with a two-seater jet.

Previous funding
In June 2016, Freigeist (formerly e42) provided Lilium with seed funding, alongside various business angels. Then in December 2016 Atomico Ventures led a €10m series-A funding round for Lilium, after which Atomico founder Niklas Zennström joined the board.

Company
Lilium was founded in 2015 by academics from Munich's technical university. The company develops electric aircraft for commercial use. It says its first jet will be able to travel at up to 300km per hour for one hour on a single charge. The company currently employs 70 people.

People
Atomico Ventures – Niklas Zennström (CEO).
Lilium – Daniel Wiegand (CEO).

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