German air taxi startup Lilium said on Monday it has raised an additional $35 million to fuel its goal of launching an electric vertical takeoff and landing (eVTOL) vehicle by 2025. That’s in addition to $240 million raised by the company in early March, when much of the globe began to feel the effects of the COVID-19 pandemic.
Lilium, which is based in Munich, is one of the more promising ventures with its sights set on an urban taxi service meant to supplant normal car traffic. And while other eVTOL companies are struggling to stay afloat during the COVID-19 pandemic, Lilium is continuing to raise funds.
As part of its expanded round, Lilium is adding a new investor: Baillie Gifford, the 112-year-old Scottish asset management firm...
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