Munich — British inves­tor Bail­lie Gifford is inves­t­ing $35 million in Munich-based air cab deve­lo­per Lilium. Gifford is Tesla’s largest inves­tor after Elon Musk.

Most recently, Chinese Inter­net group Tencent, Atomico, Frei­geist and LGT inves­ted $240 million in the company. A total of 275 million was thus inves­ted in Lilium in the current invest­ment round. In this latest round of funding, Lilium reaches a billion-dollar valua­tion. The air cab manu­fac­tu­rer was foun­ded in 2015 by four engi­neers Daniel Wiegand, Sebas­tian Born, Patrick Nathen and Matthias Meiner.

The German startup has deve­lo­ped an all-elec­­tric passen­ger jet (photo Lilium) that can take off and land vertically.