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 is the next stage in our rapid evolution from an idea to the production of a commercially successful aircraft that will revolutionize the way we travel in and around the world’s cities,” said Daniel Wiegand, CEO and co-founder of Lilium. – The Verge

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