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Lilium welcomes Baillie Gifford as new investor, extends recent funding round to $275M

Lilium, the Munich-based aviation company developing an all-electric, vertical take-off and landing aircraft for regional air mobility, welcomed respected investment management partnership, Baillie Gifford, as a new investor.

Known for their track record of investing in high-impact technology companies such as Amazon, Tesla, Airbnb, Spotify and SpaceX, the partnership has invested $35m in the company, extending the current funding round to more than $275m, and total investment to date to more than $375m.

The news comes less than three months after Lilium confirmed it had received $240m in additional funding from existing investors including Atomico, Freigeist, LGT and Tencent, who led the investment round. Combined, these funds will support the further development of the Lilium Jet as well as underpinning preparations for serial production in Lilium’s newly-completed manufacturing facilities.

Lilium welcomes Baillie Gifford as new investor, extends recent funding round to $275M

Commenting on the new investment, Christopher Delbrück, Chief Financial Officer, Lilium, said:

“Baillie Gifford is one of the world’s most influential tech investors and their commitment to Lilium represents a significant vote of confidence in both our physical product and our business case. We look forward to working closely with Baillie Gifford as we seek to bring emissions-free, regional air mobility to the market as early as 2025. The funds raised during this round give us the security to weather the challenging economic landscape we see around us and we’re grateful to be able to stay fully focused on our mission.”

Commenting on their investment, Michael Pye, Investment Manager at Baillie Gifford, said:

“We are delighted to support the remarkable team at Lilium in their ambition of developing a new mode of transport. While still at an early stage, we believe this technology could have profound and far-reaching benefits in a low-carbon future and we are excited to watch Lilium’s progress in the years ahead.”

Companies: Lilium

Industries: Aerospace, Energy

Terms: Applications, Business

Via
This article has been edited by Basalt.Today
Source
This article has been written on JEC Composites Magazine
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