Electric air taxi startup Lilium raises another $35 million to take total investment to $375 million

Lilium, the Munich-based aviation company developing an all-electric, vertical take-off and landing aircraft for regional air mobility, has raised another $35 million. 

The company says investment management partnership, Baillie Gifford, the new investor, is known for its track record of investing in high-impact technology companies such as Amazon, Tesla, Airbnb, Spotify and SpaceX.

Baillie Gifford has invested $35m in Lilium, extending the startup’s current funding round to more than $275 million, and total investment to date to more than $375 million.

The news comes less than three months after Lilium confirmed it had received $240 million 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.

Christopher Delbrück, CFO at Lilium, says: “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.”

Michael Pye, investment manager at Baillie Gifford, says: “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.”