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Your startups of the month

In May, we are once again choosing the Startups of the Month, i.e. the five companies that have particularly interested many Munich Startup readers this month.

Regina Bruckschlögl May 31, 2023 4 min reading time

Lilium — 1st place: The Munich-based flying taxi developer Lilium announced a further capital increase of up to 225 million euros (250 million dollars) in May. Commitment of 90 million euros (100 million dollars) came from the Chinese tech group Tencent. Tencent has been on board with Lilium since 2017. Since then, the group has contributed to several financing rounds for the Munich-based company, including the capital increase of 107.5 million euros (119 million dollars) at the end of last year. Now, a further 90 million euros are to follow. Tencent has also committed to an additional 67.5 million euros (75 million dollars) if Lilium succeeds in raising the same amount from other investors. the startup then to the targeted €225 million. The money will continue to flow into the development of Lilium's flying taxi. The Munich-based company also intends to use it to cover "most of the estimated capital requirements for the first manned flight," according to a press release. This is scheduled to take place by the second half of 2024. Subsequently, down payments from potential buyers will secure further financing. (Photo: Lilium)

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