eVTOL Startup Archer Receives $215M Investment From Stellantis, Boeing, United Airlines & Others

US eVTOL startup Archer Aviation has secured a $215 million equity investment from Stellantis, Boeing and United Airlines, as well as other financial institutions, including ARK Invest. This increases the company’s total funding to over $1.1 billion to date.

The funds from this round are intended to be used for Archer’s continued development of its aircraft and related technology, as well as the build out of its manufacturing and test facilities.

It has also received FAA approval to begin flying its Midnight eVTOL aircraft, and reached an agreement with Boeing and Wisk to enter into an autonomous flight collaboration and settle litigation between the companies.

Additionally, Archer announced that it is on track to complete what it believes will be the first ever eVTOL aircraft delivery to a customer as part of its recently announced contracts with the US Department of Defense (DoD).

This award is the largest total contract value of any eVTOL company.

Midnight is sesigned to be capable of flying distances of up to 100 miles, but optimised to conduct back to back flights of 20 miles with ~12 minutes of charge time in between.

Adam Goldstein, Archer’s Founder and CEO, says: “Over the last quarter, we’ve seen the U.S. government make an unwavering commitment that America will lead the way in commercializing eVTOL aircraft, the FAA validated the timeline for eVTOL aircraft to begin operations in the U.S. in 2025, and leaders in the mobility industry, Stellantis, United Airlines and Boeing, have come together to invest in Archer’s future. The pace at which our industry is advancing is unprecedented. Our team’s hard work and dedication have brought us to this exciting moment, and we can't wait to see Midnight soar.”

 Archer's team is based in Santa Clara, California.