Lilium, a Germany-based developer of electric vertical take-off and landing jets, has closed funding of $119 million.
The capital comes from existing shareholders as well as new investors including Honeywell, Aciturri, LGT, Tencent and B.Riley Securities.
A number of Lilium board members also participated, including new CEO Klaus Roewe.
Subscribe to our newsletter below
Roewe says: “We are pleased to have such a high-quality group of supporters in a challenging macro environment. These proceeds are expected to strengthen our balance sheet and advance our commercialization efforts including signing of customer agreements with pre-delivery payments, reaching an agreement with EASA on our Means of Compliance and commencing assembly of the type-conforming aircraft for the final manned flight test campaign.”
Stéphane Fymat, vice president and general manager of Urban Air Mobility at Honeywell Aerospace, says: “Honeywell and Lilium share a common vision of the importance of electric aviation and the positive impact it will have on air transportation and decarbonization. We are proud to partner with Lilium as the provider of the avionics systems, flights controls and electric motors used to guide and power Lilium’s revolutionary electric jet.”
According to a statement, Lilium plans to use the funds to for operations, to develop the Lilium Jet and for general corporate purposes.
The funding is a post-IPO round with Lilium having listed on the Nasdaq in September 2021 via merger with Qell Acquisition Corp.