Munich-based all-electric VTOL specialist Lilium has welcomed investment management partnership Baillie Gifford as a new investor. Known for its track record of investing in high-impact technology companies such as Amazon, Tesla, Airbnb, Spotify and SpaceX, the partnership has invested $35 million in the company, extending the current funding round to more than $275 million, and the total investment to date to more than $375 million.

The news comes less than three months after Lilium confirmed it had received $240 million in additional funding from existing investors including Atomico, Freigeist, LGT and Tencent, who led the investment round. Combined, these funds will support the further development of the Lilium Jet as well as underpinning preparations for serial production in Lilium's newly-completed manufacturing facilities.

Lilium CFO Christopher Delbrück comments: “Baillie Gifford is one of the world's most influential tech investors, and its commitment to us represents a significant vote of confidence in both our physical product and our business case. We look forward to working closely with Baillie Gifford as we seek to bring emissions-free, regional air mobility to the market as early as 2025. The funds raised during this round give us the security to weather the challenging economic landscape we see around us, and we're grateful to be able to stay fully focused on our mission.”

Baillie Gifford investment manager Michael Pye adds: “We are delighted to support the remarkable team at Lilium in their ambition of developing a new mode of transport. While still at an early stage, we believe this technology could have profound and far-reaching benefits in a low-carbon future, and we are excited to watch Lilium's progress in the years ahead.”