In Development Of A VTOL Electric-Powered Ducted Fan Commuter Aircraft

Lilium Aviation, which is developing the "Lilium Jet" ... an electric VTOL ducted fan-powered commuter aircraft ... has closed on a €10m ($10.73 million) Series A funding round with Atomico, the leading European venture capital firm based in London.  Lilium says the support of Atomico will enable them to continue developing the Lilium Jet through flight testing beginning in early 2017 and then into commercial production. At the same time, the company says it will be expanding its existing staff of specialists and product engineers.

Atomico’s founder Niklas Zennström will be joining the Lilium board, bringing with him extensive experience of building world class companies.

Atomico is known as a champion of European “deep tech” companies that bring together specialist knowledge and skills with the vision and determination to solve the world’s biggest problems.

The problem the Lilium Jet is designed to address is gridlock in cities. By 2035, there will be an estimated 2 billion cars in urban areas worldwide.

Lilium was formed to address the technical challenge of creating a zero-emission, electrically powered aircraft, capable of vertical take-off and landing in urban areas, understanding that the implications of such technology were far greater than just taking cars off the roads.

Lilium envisions cities with micro landing pads right in the middle of built-up areas. "At that point, the nature of commuting changes fundamentally. With the Lilium Jet, the radius of our lives will be enlarged 3x. Escaping to the country will mean a 15 minute flight, rather than a two hour drive or stop-start train journey," the company wrote on its website.

"We will be able to work where we need to and live where we want to, with none of the gruelling compromise required today. House prices will adjust accordingly, as town and country compete on a level-playing field.

"This is a future that we believe should be open to everyone."

The company predicts businesses will spring up around the Lilium Jet, offering air taxi services and other new models of transportation. "Lilium passengers of tomorrow are the people using ride-hailing and car sharing apps today, not private jets," the company says.

(Images provided with Lilium Jet news release)

FMI: http://lilium-aviation.com/