March.30.2020
Orrick advised German aviation pioneer Lilium on an internal funding round worth more than $240m. The round was led by Tencent, with participation from other existing investors including Atomico, Freigeist and LGT.
The new funds bring the total sum raised to date to more than $340m. They will be used to support further development of the Lilium Jet as well as underpinning preparations for serial production in Lilium's newly completed manufacturing facilities.
Lilium is an aviation company developing an emissions-free regional air mobility service. It has designed and prototyped the Lilium Jet, a brand-new type of aircraft that aims at delivering regional journeys that are considerably faster than rail or road, yet competitive in price. It is a fully electric aircraft that can take-off and land vertically (eVTOL).
Lilium was advised by a cross border Orrick team led by Munich-based M&A and private equity partner Dr. Christoph Rödter. The team further included partners Chris Grew (Technology Companies Group, London), Dr. Thomas Schmid (M&A and private equity, Munich), Dr. Timo Holzborn (financial markets, Munich), Dr. Stefan Schultes-Schnitzlein (Tax, Düsseldorf), Dr. Till Steinvorth (antitrust, Düsseldorf) and Harry Clark (International Trade, Washington) as well as counsel Olexiy Oleshchuk (financial markets, Munich) and associates Viktor Kolberg (M&A and private equity, Munich) and Christina Hatinoglu (Technology Companies Group, London).