Archer aviation raised $215 million led by its strategic partner Stellantis, this investment round bolsters Archer’s financial position and includes a $70 million acceleration from Stellantis, with $55 million still available from the earlier agreement. Stellantis’ unwavering commitment, coupled with the support of CEO Carlos Tavares and Chief Engineering and Technology Officer Ned Curic, has been instrumental in Archer’s growth.
Notable Investors and Utilization of Funds
The funding round attracts a diverse group of investors, including United Airlines, industry giant Boeing, and ARK Invest, among others. These funds will be allocated for working capital, general corporate purposes, and the advancement of Archer’s aircraft and related technology. Additionally, the investment will aid in expanding manufacturing and test facilities, underlining Archer’s commitment to innovation and progress.
Archer, Wisk, and Boeing Collaborate for Autonomous Flight
In a significant industry development, Archer, Wisk, and The Boeing Company have come together to collaborate on advancing autonomous flight capabilities. This strategic partnership not only propels the growth of advanced air mobility (AAM) but also resolves ongoing litigation between the involved parties. Archer gains a distinct advantage by accessing autonomy technology from a leading industry player, which aligns with its long-term vision for scaling autonomous flight across various applications.
FAA Grants Special Airworthiness Certificate to Archer Midnight Aircraft
Archer has achieved a notable milestone as its Midnight aircraft receives a Special Airworthiness Certificate from the Federal Aviation Administration (FAA). This certificate signifies that Archer’s Midnight aircraft has met all FAA safety requirements, paving the way for upcoming flight test operations. Archer’s progress on Midnight’s certification program underscores its commitment to launch the aircraft into service by 2025.
Delivering Innovation to the U.S. Air Force
Archer’s recent landmark agreements with the Department of Defense, valued at up to $142 million, are moving forward as the company remains on track to deliver the Midnight aircraft to the U.S. Air Force later this year or early next year. This achievement would mark a historic moment, as Midnight would become the first-ever electric vertical takeoff and landing (eVTOL) aircraft delivered to a customer, further solidifying Archer’s position as an industry leader.
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