Lilium receives $90 million to build electric flying taxi

German start-up Lilium has secured $90 million in funding to build a five-seat, all-electric flying taxi. The funding will be used to develop the company’s five-seat commercial Lilium Jet, as well as to grow the company’s team of more than 70 people. As envisioned, a fully charged Lilium Jet would be able to stay aloft for about an hour and travel at speeds in excess of 180 mph. It will also have an on-demand feature where users can order the air taxi to a nearby landing pad.

This round of financing brings Lilium’s investment funds to a total of more than $100 million, after the start-up received a $10 million seed investment last year. The investors in the latest funding round are Tencent, Skype co-founder Niklas Zennström’s Atomico,…

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