The urban airborne vehicle spinout of TU Munich closed more than $240m in funding, in a Tencent-led round reportedly valuing it at up to $1bn.

Lilium, a Germany-based electric aerial vehicle developer spun out of Technical University of Munich, raised more than $240m in a funding round today led by internet group Tencent. The corporate was joined by other existing backers including venture capital firm Atomico, investment firm Freigeist Capital and asset management group LGT. Lilium was reported in October…

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