Lilium eVTOL electric jet flying, Germany.

Lilium GmbH completed an internal funding round worth over $240M, bringing its total funds raised to more than $340M, the Munich, Germany-based eVTOL aircraft maker said March 23. China’s Tencent Holdings, Ltd., led the round with participation from other existing tech investors, including Germany’s Freigeist Capital, London’s Automico and Switzerland’s LGT Capital Partners. Lilium plans to use the new funds for further development of its Lilium Jet and to support preparations for its serial production at the company’s new manufacturing facilities. A company spokesman told Aviation Today that additional fundraising will be necessary to get the Lilium Jet to market entry by its 2025 target, but that this round would give Lilium “conservatively, at least 12 months of runway.” The photo shows the ill-fated first aircraft in flight. (Sources: Lilium, Aviation Today)

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