Archer Aviation Receives $850 Million in Funding
Archer Aviation has obtained $850 million in new money. This happened after the Trump administration created an executive order to help bring electric vertical takeoff and landing (eVTOL) aircraft to the US. This funding makes Archer’s total money available to around $2 billion, which strengthens its position before its planned electric air-taxi service at the LA 2028 Olympic Games. Archer will be the Official Air Taxi Provider for the Games.
How the Funding was Raised
The extra money was raised by selling 85 million shares of Archer’s Class A common stock. The sale was priced at $10 per share, and Moelis and Company was the only company allowed to help with the sale. Archer says they will use most of the money to build the infrastructure needed for their commercial eVTOL operations in the US and in specific international markets like the UAE. They will also use the money to develop their artificial intelligence-based aviation software.
“This Executive Order is a very important moment for Archer and the entire eVTOL industry,” said Adam Goldstein, the CEO and founder of Archer. “Now we have the strongest financial position in the industry and the resources we need to work both here in the U.S. and around the world.”
Source: Archer Aviation
I’m Rohan Mehta, the voice behind KhelRe—a trusted and steadily growing blog dedicated to electric vehicles (EVs) in India. With over five years of experience as a tech and automotive blogger, I turned my frustrations with owning an EV into a mission: to help others make more intelligent choices in this fast-evolving world of electric mobility.
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