Air Taxi Maker Archer Aviation Raises $300 Million to Accelerate Aircraft Development
Air-taxi manufacturer Archer Aviation has announced securing $300 million in funding from institutional investors, including BlackRock. This capital injection is expected to bolster Archer's aircraft development and strengthen its financial position.
"This additional capital will enable us to invest in vital technologies like composites and batteries, allowing us to seize market opportunities," stated CEO Adam Goldstein.
The latest funding brings Archer's total liquidity to approximately $1 billion. Though the company did not disclose its valuation, analysts anticipate Archer's strong position in the competitive eVTOL sector.
Despite industry challenges, Archer's previous fundraising efforts include $430 million raised in December. Participants included Anduril, United Airlines, and Stellantis, as well as Wellington Management and 2PointZero.
Archer reported that its preliminary fourth-quarter operating expenses aligned with its projections of $95-$110 million. The company anticipates first-quarter 2025 expenses to remain within this range.
(Reporting by Abhinav Parmar in Bengaluru; Editing by Pooja Desai)