The air taxi developer added $35m from Baillie Gifford to a $240m first close led by Tencent in March, and is now valued above $1bn.

Investment manager Baillie Gifford added $35m to a funding round for Germany-based urban aircraft developer Lilium already backed by internet group Tencent, lifting it to more than $275m. Tencent led the round’s first close in March this year, participating alongside investment firm Freigeist Capital, venture capital firm Atomico and asset management group LGT. The round…

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