Existing investor Tencent is in talks as part of a round TUM's flying car developer reportedly aims to close at between $400m and $500m.
Lilium, a Germany-based airborne taxi developer spun out of Technical University of Munich (TUM) has begun talks with investors including internet group Tencent to raise $400m to $500m in funding, TechCrunch reported yesterday, citing people familiar with its plans.
An undisclosed venture capital investor told TechCrunch: “It is a very large round at a very large valuation,” though none of the sources provided details of that valuation nor any additional investors to which the company is speaking.
Founded in 2015, Lilium is developing a five-seater electric-powered flying vehicle that will utilise vertical take-off and landing technology, and which is designed to operate as part of an airborne transport service.
The company revealed a prototype version of the vehicle in May this year and said it aims to be offering a taxi service using the machine by 2025. It is set to have a 300-kilometre range and a top…
