Wednesday, September 6, 2017

Lilium receives $90 million to build electric flying taxi


German start-up Lilium has secured $90 million in funding to make a five-seat, all-electric flying taxi. The funding is going to be wont to develop the company’s five-seat industrial Lilium Jet, likewise on grow the company’s team of over seventy people. As envisioned, a completely charged Lilium Jet would be able to keep aloft for regarding associate hour and travel at speeds in far more than 180 mph. it'll even have associate on-demand feature wherever users will order the air taxi to a nearby landing pad.

This spherical of funding brings Lilium’s assets to a complete of over $100 million, once the start-up received a $10 million seed investment last year. The investors within the latest funding round ar Tencent, Skype co-founder Niklas Zennström’s Atomico, Twitter co-founder eV Williams’ Obvious Ventures, and private banking group LGT.

“This is that the next stage in our fast evolution from a plan to the assembly of a commercially successful craft that may revolutionize the means we have a tendency to travel in and round the world’s cities,” said Daniel Wiegand, CEO and co-founder of Lilium in a statement. whereas it's like unmanned flight is going to be a district of our future, a previous study by Swiss bank UBS found over half the folks they surveyed were unwilling to travel during an unmanned plane albeit it prices less. Still, the venture appearance promising. In April, Lilium declared a world-first check flight of its all electrical, two-seater, vertical take-off and landing (VTOL) model. Lilium expects the primary useful crewed jet to require off in 2019, and also the on-demand feature to travel sleep in 2025.

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