Sources: Lilium is looking to raise up to $500M for its electric flying taxis
“Flying cars” — airborne vehicles designed for urban and other short-distance commutes to replace conventional private automobiles — are (at best) still years away from being a reality, with significant safety, technology and business model hurdles to clear before they ever hit the sky. Now, sources tell us that one of the more promising startups in the field, the German startup Lilium, wants to put itself into pole position by ramping up its financial position.
Lilium has been talking to investors to raise a big round of funding, between $400 million and $500 million, according to those familiar with its plans. “It’s a very large round at a very large valuation,” one VC told TechCrunch.