The German manufacturer have secured the impressive amount, which they say will enable them to "make their five-seat jet a reality".
Daniel Wiegand, co-founder and CEO, said: "This investment is a tremendously important step for Lilium as it enables us to make the five-seat jet a reality. This is the next stage in our rapid evolution from an idea to the production of a commercially successful aircraft that will revolutionise the way we travel in and around the world's cities.
"It makes Lilium one of the best funded electric aircraft projects in the world. Our backers recognise that Lilium's innovative eVTOL technology puts us in the lead in this exciting new industry, with no other company promising the economy, speed, range and low-noise levels of the Lilium Jet.
"We are continuing to recruit the very brightest and best global talent in aeronautical engineering, physics, electric propulsion and computer science to join us on this extraordinary aviation journey where the only limits are the laws of physics."
And the companies who have funded the project believe their jet will improve things for "under-developed regions with poor road infrastructure" as well as help with congestion in the developed world.
David Wallerstein, Chief Exploration Officer at Tencent, added: "Transportation technologies play a fundamental role in structuring our everyday lives. Lilium's electric powered eVTOL aircraft offers new mobility options that can benefit people around the world.
"From under-developed regions with poor road infrastructure, to the developed world with traffic congestion and sprawl, new possibilities emerge when convenient daily flight becomes an option for all of us. Lilium offers a substantial and environmentally-friendly transportation breakthrough for humanity."
Whilst Niklas Zennström, CEO and Founding Partner at Atomico, shared: "Lilium has already demonstrated its leadership in this new eVTOL industry and its once-in-a-generation transformative technology will have a seismic, positive impact on the world for generations to come.
"Now, with this latest investment round, Lilium has the capital and resources to speed ahead with the development of a commercially successful commuter aircraft that will transform the way we travel and help to solve some of the great challenges of our time."