A Flying Taxi Just Raised $90 Million, So That’s Definitely Happening

We'll take those hoverboards next, Doc

September 5, 2017 9:00 am

After releasing a much-watched clip of their five-seat flying taxi prototype take to the skies for the first time back in April, Lilium is finally putting its money where its viral video is.

This week, the Munich-based startup announced it has secured $90 million in Series B funding, a marked increase from the $10 million in Series A cash Lilium was able to raise last year. The cash — which came from investors that included Chinese tech giant Tencent and global asset management group LGT — will be used to hire more employees and make improvements to the miniature jet’s vertical takeoff and landing system (VTOL), especially rendering it to run quieter.

Powered by lithium-ion batteries that eliminate emissions and cut down on noise, the electric aircraft is supposedly capable of hitting almost 190 MPH and traveling 185 miles on a single charge. With those kind of specs, Lilium thinks their jet will be accessible and helpful for nearly anyone.

“We want to be the leading company enabling every person to take a jet instead of using the car and be five times faster to their destination,” Lilium CEO Daniel Wiegand told TechCrunch. “There’s going to be an app and from day one you’ll be able to book this airplane as a service.”

If you think flying taxis eventually have a shot of taking off, Lilium is hiring for a range of jobs.

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