Lilium raises nearly 114 million euros

The Munich-based air cab start-up plans to start production of its vertical take-off and landing vehicles next year.

The Munich-based air cab start-up Lilium has raised 113.7 million euros. Investors in the capital increase included Honeywell, Aciturri, impact investor Lightrock, Liechtenstein private bank LGT and B. Riley Securities were among the investors. The three board members Batty Engle, David Wallerstein and Niklas Zennström as well as the new CEO Klaus Roewe also participated.

"We expect these proceeds to strengthen our balance sheet and drive our commercialization efforts," says Roewe. "Including the signing of customer contracts with advance payments and the start of the assembly of the type-compliant aircraft for the final manned flight test campaign."

Founded in 2015 from the Technical University of Munich, the company develops vertical take-off jets, with production set to begin next year. Last year, the company went public on the US technology exchange Nasdaq via Spac. Lilium thus secured around 496 million euros. Initial letters of intent for the purchase of the jets have already been issued. The national airline of Saudi Arabia wants to buy 100 Lilium jets, the ASL Group wants six jets for the Benelux countries and Helity Copter Airlines wants to operate five jets in Andalusia. Twelve jets are also to be deployed in the south of France and Italy, where Globeair has issued a letter of intent.