German eVTOL Developer Lilium Announces Capital Raise for up to $250 Million

Germany's Lilium N.V., a developer of all-electric vertical take-off and landing (eVTOL) jet, has announced a capital raise for up to $250 million. The new funding will enable Lilium to continue the development of its Lilium Jet, and would cover most of the estimated capital required to achieve first manned flight of the type-conforming aircraft.

Once this development milestone is achieved, which is planned for the second half of 2024, Lilium says it expects to benefit from the contribution of substantial pre-delivery payments (PDPs) which will help fund its subsequent capital requirements.

The Lilium Jet offers low noise and high performance with zero operating emissions.

Working with aerospace, technology, and infrastructure leaders, and with planned launch networks announced in Germany, the US, Brazil, and the UK, Lilium’s 800+ strong team includes approximately 450 aerospace engineers.

Lilium CEO, Klaus Roewe, says: “The capital raise announced today marks an important development in our ongoing mission to revolutionize the aviation industry. With this financing, we are excited to continue our development program at full pace. We remain in multiple constructive discussions with existing and potential new investors. We hope to announce further updates soon.” 

Founded in 2015, Lilium’s headquarters and manufacturing facilities are in Munich, Germany, with teams based across Europe and the U.S