Archer Aviation has raised $850m in funding, bolstered by a recent Executive Order from US President Trump aimed at accelerating the deployment of electric vertical takeoff and landing (eVTOL) aircraft in the US.
This financial boost puts Archer’s liquidity at approximately $2bn.
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The recent funding, achieved through the sale of 85 million shares of Archer’s Class A common stock at $10 per share, will support general corporate purposes, enhance commercial capabilities, and develop an AI-based aviation software platform.
Archer Aviation plans to collaborate with the White House, the Department of Transportation, and the Federal Aviation Administration to align its strategies with the eVTOL Integration Pilot Programme.
A key focus is preparing for its role as the official air taxi provider for the LA 28 Olympic Games.
Next week, Archer will showcase its Midnight aircraft at the Paris Air Show, engaging with delegations from more than 20 countries, including representatives from the UAE, its initial target market.
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By GlobalDataArcher CEO Adam Goldstein is set to meet with key officials, including US Secretary of Transportation Sean P. Duffy and acting FAA Administrator Chris Rocheleau at the show.
Goldstein said: “This Executive Order is a seminal moment for Archer and the eVTOL industry.
“We now have the strongest balance sheet in the sector and the resources we need to execute both here in the US and abroad. Archer’s future couldn’t be any brighter,” he claimed.
Recently, Archer Aviation advanced to the next stage of its Midnight aircraft flight test programme by initiating piloted flight operations.
This follows years of autonomous flight testing on various aircraft platforms, which validated the 12 tilt-6 VTOL configuration.
