Lilium, a Munich-based startup which was founded by four entrepreneurs in 2015, developed an electric car-sized aircraft that can take off and land vertically.
The company said that now its has raised $90 million in the series B founding for the R&D of the five-seat mini jet. The series B funding comes from Chinese tech giant Tencent, Niklas Zennström, who is Skype’s co-founder, and Obvious Ventures, whose co-founder Ev Williams also helped create and run Twitter. Currently, total investment in Lilium reached over $100 million.
The series B funding “is the next stage in our rapid evolution from an idea to the production of a commercially successful aircraft that will revolutionize the way we travel in and around the world’s cities,” Daniel Wiegand, the CEO and co-founder of the company, said in the statement. “It makes Lilium one of the best-funded electric aircraft projects in the world,” he said.
Matthias Meiner, a co-founder and head control of Lilium, said in April that the company aimed to achieve manned flights in a five-passenger version by 2019.
Currently, Lilium has around 70 employees, and it plans to use the news fund to hire more physicists, aeronautical engineers, and electric propulsion estimates. The company also hired Remo Gerber, which was Gett’s high-level executive, as its chief commercial officer.