Lilium, the German startup developing an electric jet and on-demand flight taxi service, has raised a whopping €224 million in an internal round led by Tencent, with London's VC Atomico and US-based Obvious Ventures investing again as well. Founder Daniel Wiegand says the startup will use the massive funding for development and flight tests, as well as the series production of its jet. The jet is powered by electricity, reportedly flying 300 kilometers with a single charge. Future development will aim to hit two targets: a top speed of 300 kilometers per hour, and carrying its first passengers in 2025.
Founded in Munich five years ago, the company has raised €315 million to date, including a Series A back in 2016.