Archer Aviation, an aerospace startup specializing in electric vertical take-off and landing (eVTOL) aircraft, has announced a $300 million investment from partners, including BlackRock.
This funding aims to support the development of eVTOL aircraft for defense applications. CEO Adam Goldstein expressed optimism about the potential for advanced vertical-lift aircraft in the defense sector, leading to the additional capital raise. With approximately $1 billion in total liquidity, Archer plans to invest in technologies such as composites and batteries.
Recently, Archer partnered with defense technology startup Anduril Industries to develop military-use aircraft. Despite raising significant funding, Archer's stock experienced fluctuations, with an 8.9% drop following a 13.1% increase the previous day. The company is working on aircraft certification, with early commercial deployment expected in 2025. Wall Street anticipates substantial growth, projecting nearly $600 million in sales by 2027, with positive cash flow and profits expected by 2028.
