Lilium, a Munich, Germany-based air taxi maker, raised $240m in internal funding.
The round, which brought total funding raised to date to more than $340m, was led by Tencent with participation from Atomico, Freigeist, and LGT.
The company intends to use the funds for further development of the Lilium Jet as well as underpinning preparations for serial production in its newly-completed manufacturing facilities.
Co-founded in 2015 by Daniel Wiegand (CEO), Sebastian Born, Matthias Meiner and Patrick Nathen, Lilium is an aviation company developing an emissions-free regional air mobility service. It has designed and prototyped the Lilium Jet, a brand-new type of aircraft that will deliver regional journeys with zero operating emissions. The demonstrator aircraft first flew in May 2019 and is a five-seater, fully-electric aircraft that can take-off and land vertically (eVTOL).
As well as designing and manufacturing the Lilium Jet, the company plans to operate a regional air mobility service as early as 2025 in several regions around the world.
Lilium currently employs more than 400 people.