Investors swoop in to save German flying taxi startup [Video]
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Investors swoop in to save German flying taxi startup [Video]

A German flying taxi startup was Tuesday saved from collapse after a consortium of investors swooped in at the 11th hour to take over the ailing firm.

Lilium had already filed for bankruptcy in October, and was expected to fold entirely this week unless it could secure new sources of funding.

But the startup, which has been developing small electric-powered jets that can take off and land vertically, announced a “major breakthrough”.

Mobile Uplift Corporation, a company set up by a consortium of European and North American investors, had signed a deal to buy the assets of the crisis-hit German company, Lilium said.

Lilium, which is based in the southern state of Bavaria, did not disclose the price of the deal.

The agreement is expected to be finalised at the start of January, which will “allow us to restart our business”, Lilium CEO Klaus Roewe said.

Lilium had attracted substantial …

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We are in 2025. Hundreds of thousands of tech businesses have already been built successfully. Let's learn from those who have come before us. Girish Navani started eClinicalWorks, a healthcare IT venture by bootstrapping with a paycheck. Girish scaled to over $500M in revenue. Since 2006, I have spent thousands of hours interviewing successful entrepreneurs. Listening. Asking questions. Understanding. Extrapolating. Learning about their mistakes. Capturing their lessons from the trenches. I encapsulated their anecdotal knowledge into Methodology. I have been running One Million by One Million (1Mby1M) since 2010. Our unwavering mission has been to democratize entrepreneurship education, incubation and acceleration. What is Core Startup Methodology? Bootstrapping. Positioning. Market Sizing. Customer Validation. Customer Acquisition. Financing. Team Building. We have to learn Domain Specific nuances. We call them Electives. Artificial Intelligence. Machine