Baillie Gifford invests in Lilium's eVTOL program

Lilium, the Munich-based aviation company developing an all-electric, vertical take-off and landing (eVTOL) aircraft for regional air mobility, welcomed on June 9 Baillie Gifford as a new investor. Historically investing in high-impact technology companies such as Amazon, Tesla, Airbnb, Spotify and SpaceX, Baillie Gifford has invested $35 million in Lilium, extending the current funding round to more than $275 million, and total investment to date to more than $375 million.

Less than three months ago, Lilium confirmed it had received $240 million in additional funding from existing investors, including Atomico, Freigeist, LGT and Tencent. Combined, these funds will support the development of the Lilium Jet which uses carbon fiber-reinforced plastic composites. The money also will fund preparation for serial production in Lilium’s recently completed manufacturing facilities. The company seeks to bring emission-free, regional air mobility to the market as early as 2025.

Christopher Delbrück, Lilium’s chief financial officer, says, “Baillie Gifford is one of the world’s most influential tech investors and their commitment to Lilium represents a significant vote of confidence in both our physical product and our business case. The funds raised during this round give us the security to weather the challenging economic landscape and we’re grateful to be able to stay fully focused on our mission.”

While Lilium is still at an early stage in the development of its eVTOL aircraft, Baillie Gifford says it believes the technology could have far-reaching benefits in a low-carbon future.