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, develop the Lilium Jet, and for general corporate purposes, which may include payment of Lilium’s suppliers and working capital uses".
Lilium's new chief executive Klaus Rowe said the company was "pleased to have such a high-quality group of supporters in a challenging macro environment".
Stéphane Fymat, Honeywell Aerospace vice president and general manager of urban air mobility, said Honeywell was "proud to partner with Lilium as the provider of the avionics systems, flights controls, and electric motors used to guide and power Lilium’s revolutionary electric jet".