Flying taxi firm sees new investment from Baillie Gifford during latest funding round
Lilium, the Munich-based aviation company developing an all-electric, vertical take-off and landing aircraft for regional taxi air mobility, have welcomed investment management partnership, Baillie Gifford, as a new investor.
Known for their track record of investing in high-impact technology companies such as Amazon, Tesla, Airbnb, Spotify and SpaceX, the partnership has invested $35m in the company, extending the current funding round to more than $275m, and total investment to date to more than $375m.
The news comes less than three months after Lilium confirmed it had received $240m in additional funding from existing investors including Atomico, Freigeist, LGT and Tencent, who led the investment round. Combined, these funds will support the further development of the Lilium Jet as well as underpinning preparations for serial production in Lilium’s newly-completed manufacturing facilities.
Lilium is an aviation company developing an emissions-free regional air mobility service. It has designed and prototyped the Lilium Jet, a brand-new type of aircraft that will enable it to deliver regional journeys that they believe will be considerably faster than rail or road, yet competitive in price.
The demonstrator aircraft first flew in 2019 and is a five-seater, fully-electric aircraft that can take-off and land vertically (eVTOL). Lilium expects to service a sizeable global market demand by connecting communities at a fraction of the cost of conventional high-speed infrastructure, with zero operating emissions. Commenting on the new investment, Christopher Delbrück, Chief Financial Officer, Lilium, said: “Baillie Gifford is one of the world’s most influential tech investors and their commitment to Lilium represents a significant vote of confidence in both our physical product and our business case.
“We look forward to working closely with Baillie Gifford as we seek to bring emissions-free, regional air mobility to the market as early as 2025.
“The funds raised during this round give us the security to weather the challenging economic landscape we see around us and we’re grateful to be able to stay fully focused on our mission.”
Commenting on their investment, Michael Pye, Investment Manager at Baillie Gifford, said: “We are delighted to support the remarkable team at Lilium in their ambition of developing a new mode of transport.
“While still at an early stage, we believe this technology could have profound and far-reaching benefits in a low-carbon future and we are excited to watch Lilium’s progress in the years ahead.”
Image credit: Lilium
