Lilium secures $192 million to fuel eVTOL air taxi development

German electric vertical takeoff and landing (eVTOL) aircraft developer Lilium says it has secured over $190 million in additional financing designed to allow it to advance work on its air taxis into test flight phases.

Lilium announced the new funding as a mix of new share offerings and direct infusions from investors. The search for additional financing issues directly from the company’s statement in May that it was aiming to raise a total of $250 million, a chunk of which would be provided by longtime backer Tencent Holdings conditional on matching money being found. 

The revealed initiative appears to fulfill those requirements, and is expected to permit cash-drained Lilium to work into the first flights of its eVTOL, which it hopes to launch into air taxi services after expected certification in 2025.

Read more: Cash-pinched Lilium to raise $250M for air taxi certification push

The de rigueur tangle of details in such deals…