Electric vertical take-off and landing (eVTOL) aircraft developer Archer Aviation has raised $300 million in a funding round that included participation from institutional investors along with funds and accounts managed by BlackRock.
The company said on February 11, 2025, that It expects the funding to help accelerate the development of the company’s hybrid aircraft platform.
“We are raising additional capital to help us invest in critical capabilities like composites and batteries to help enable us to capture this opportunity and more,” commented Adam Goldstein, founder and CEO of Archer.
The capital raise brings Archer’s total liquidity position to $1bn.
This funding follows funding in December 2024 of $430 million in additional equity capital. The capital raise had participation from Stellantis, United Airlines, and new institutional investors, including Wellington Management and Abu Dhabi investment holding company 2PointZero.
The California-based firm also said in preliminary results for the fourth quarter of 2024, that the company expects adjusted operating expenses are to align within its guidance range of between $95 to $110 million.
Archer also confirmed that it does not expect that its total adjusted operating expenses for the first quarter of 2025 will materially increase over this fourth quarter guided range.
The company ended its third quarter of 2024 with $502 million of cash and cash equivalents on its balance sheet.