Lilium Aviation raises €10m Series A funding round with Atomico
The team at Lilium Aviation is thrilled to announce that we have closed a €10m Series A funding round with Atomico, the leading European venture capital firm based in London.
Their support will enable us to continue developing the Lilium Jet, through flight testing beginning in early 2017, towards commercial production. At the same time, we will also be expanding our existing staff of specialists and product engineers.
We are delighted that Atomico’s founder Niklas Zennström will be joining our board, bringing with him extensive experience of building world class companies. Already, we have been impressed by the Atomico team as they assist with critical hiring and developing our go to market strategy.
Atomico is known as a champion of European “deep tech” — companies that bring together specialist knowledge and skills with the vision and determination to solve the world’s biggest problems.
Our cities are heading for perpetual gridlock, choked by an ever growing number of cars — 1.2 billion today, rising to an estimated 2bn by 2035.
Moving to electric vehicles may stem the flow of harmful emissions, but it will make not one bit of difference to congestion.
In founding Lilium we looked to the skies for an answer.
Even as we engaged with the technical challenge of creating a zero-emission, electrically powered aircraft, capable of vertical take-off and landing in urban areas, we understood that the implications of such technology were far greater than just taking cars off our roads.
The look and feel of our towns and cities is hugely influenced by our transport infrastructure. The space we use to park our vehicles is so much less than the endless roads that we move them around on. That changes when we are able to simply rise into the air.
Today, if we want to travel further and faster, we have to make our way to airports on the outskirts of our cities. But what happens when we have micro landing pads right in the middle of built-up areas? When the fastest transport is also the most accessible and flexible.
At that point, the nature of commuting changes fundamentally. With the Lilium Jet, the radius of our lives will be enlarged 3x. Escaping to the country will mean a 15 minute flight, rather than a two hour drive or stop-start train journey.
We will be able to work where we need to and live where we want to, with none of the gruelling compromise required today. House prices will adjust accordingly, as town and country compete on a level-playing field.
This is a future that we believe should be open to everyone.
We will see businesses spring up around the Lilium Jet, offering air taxi services and other new models of transportation. Lilium passengers of tomorrow are the people using ride-hailing and car sharing apps today, not private jets.
It is an exciting vision of the way our world could be. We hope that when everyone sees the amazing progress we are making on the Lilium Jet, they’ll understand that we’re already well on our way.