Lilium Raises $90 Million for All-Electric Flying Taxi

The Lilium jet promises to transport riders must faster than conventional taxis and with much less impact on the environment.

The new all-electric device that takes off and lands vertically is being developed by a Germany based startup that until only a few years ago did not even exist.

The mission of the Germany based company is to enable all to use this type of transportation system in their daily lives, said CEO and co-founder of Lilium Daniel Wiegand.

The CEO added that the company wants to be the leader in enabling everyone to take our jet rather than use a car and reach their destination five times faster.

There will be an app and from that day forward this jet will be able to be booked as a service, added Wiegand.

Despite what others may have written elsewhere, day one is quite far in the distance, with the jet being described by Wiegand as following a timeline for development of any aircraft of that size that is new.

The company however, is making substantial headway including a first successful, public flight last April, for its remote-operated two-seater version of its jet, which the CEO of Lilium said was not unnoticed by our investors.

Today Lilium announced it ended a Series B funding round of $90 million, which was up from its Series A funding of $10 million from last year.

Backing this new round of funding is LGT, Tencent, Atomico, and Obvious Ventures.

As well as its successful test flight, the CEO at Lilium said the company has built a great deal on the company side related to hiring including the engineering team.

Employees at the company are in excess of 75, of which close to 50% are non-German. In August, Lilium added new key employees from companies of note in the transportation industry.

Those hires included Dr. Remo Gerber, a former MD, who is the CCO.

Not a conventional plane or helicopter, yet capable to some extent of doing what both can, a number of other new startups are focused on today’s electric aircraft market. They include Zee.areo and Kitty Hawk both backed by Google’s Larry Page, while Airbus backs Vahana.

The challenge that by far is Lilium’s biggest is batteries. Compared to gas, there is approximately one hundred times less energy for each kilogram of battery that per kilogram of gas, which means the concept for an aircraft, needs to be extremely efficient moving through the air.

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