TU Munich's air taxi developer has added $35m from Bailie Gifford to a $240m first tranche led by Tencent in March, and is now valued above $1bn.

Investment manager Bailie Gifford added $35m to a funding round for Lilium, a Germany-based electric aerial vehicle developer spun out of Technical University of Munich, lifting it to more than $275m. Internet group Tencent led the round’s $240m first close in March this year, participating alongside investment firm Freigeist Capital, venture capital firm Atomico and…

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