German electic aircraft maker Lilium raises US$119 million in fresh capital

Munich-based Lilium, which describes itself as “developer of the first all-electric vertical take-off and landing (“eVTOL”) jet”, last week announced the “successful closing of a $119 million capital raise from existing shareholders, new investors, and strategic partners”. Among the participants were Honeywell, Aciturri, LGT and its affiliated impact investor Lightrock as well as Tencent, B. Riley Securities and “certain affiliates thereof”, Lilium said in a statement, listing Citigroup, B. Riley Securities and Piper Sandler as “placement agents for the offerings”. The plan, according to Lilium, is “to use the net proceeds from the offerings to continue to fund its operations,