Lilium has completed a $90 million Series B round from Tencent, LGT, Obvious Ventures and previous backer Atomico. The flying-taxi maker completed the first series of test flights with its two-seater model in April and will use the raised capital to drive recruitment and further develop its five-seater jet.
The funding underscores the interest in startups developing battery-powered technology and vehicles for air-taxi services. For example, peer company Volocopter received a €25 million investment from German car giant Daimler and other backers last month, and will be conducting demonstrations of its autonomous flying cabs in Dubai in 4Q.
Lilium, which was founded in 2015, is preparing for a manned test flight of its aircraft in 2019. A roll-out of flying taxi services—subject to regulatory approvals—is expected within three to four years.
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