TechTaffy

tech:

taffy

Lilium raises $90 Million Series B Funding

By TechTaffy Desk

Lilium, a German startup working on flying cars (yes, you read that right) has raised a $90 million Series B funding round. The funding group consists of Tencent, LGT, Atomico, the company’s Series A backer founded by Skype co-founder Niklas Zennström; and Obvious Ventures, whose co-founder Ev Williams is Twitter’s co-founder and former CEO.

The investment will be used for the development of the five-seat Lilium Jet that will fly commercially, says the company. Lilium also plans to grow its current team of more than 70.

The Lilium Jet will be able to travel at up to 300 km per hour for one hour on a single charge – meaning an example 19 km journey from Manhattan to JFK Airport could last as little as five minutes, according to the company.

Lilium has raised $100 million to date.

You can watch the maiden flight of Lilium here:

[Image courtesy: Lilium]

Just in

Around the web

Windows 11 Start menu ads are now rolling out to everyone — The Verge

Microsoft is starting to enable ads inside the Start menu on Windows 11 for all users, writes Tom Warren. 
Around the web

Biden signs TikTok ‘ban’ bill into law, starting the clock for ByteDance to divest it — The Verge

President Joe Biden signed a foreign aid package that includes a bill that would ban TikTok if China-based parent company ByteDance fails to divest the app within a year, writes Lauren Feiner.
IT

IBM to acquire HashiCorp for $6.4B

IBM and HashiCorp have entered into an agreement for IBM to acquire HashiCorp, a provider of infrastructure and security management products, for $6.4 billion.
AI

OpenAI introduces new enterprise features

OpenAI announced new features aimed at enterprise users on Tuesday, at the wake of Meta's recent LLama 3 announcement.
Around the web

Oracle is moving its world headquarters to Nashville to be closer to health-care industry — CNBC

Oracle Chairman Larry Ellison said Tuesday that the company is moving its world headquarters to Nashville, Tennessee, to be closer to a major health-care epicenter, writes Ashley Capoot.