Lilium Closes $90 Million Series B

German startup Lilium announced that it has closed $90 million in Series B funding. Tencent, LGT, Atomico, and Obvious Ventures participated in the round.

Founded in 2014, Lilium is a European Space Agency-supported startup that develops an electric vertical take-off and landing jet — basically an air taxi for up to five people. According to the company, the Lilium jet is able to travel from London to Paris in one hour; fly as fast as a Formula One car at 300 kilometers an hour; and commute without emissions and noise pollution. The company is on a mission to create a future where air taxis are available to everyone and as affordable as riding in a car.