Archer Aviation announced on Thursday that it has raised $430 million in fresh capital, aimed at advancing its aerospace technology projects, including the development of a hybrid aircraft in partnership with defense tech company Anduril Industries. The equity offering attracted existing backers like United Airlines and Stellantis, as well as new investors such as Wellington Management and Abu Dhabi-based 2PointZero.
The collaboration with Anduril, founded by Palmer Luckey, targets a potential “program of record” acquisition from the Pentagon. While details about the aircraftās specifications, investment scale, and service entry timeline remain undisclosed, Archer CEO Adam Goldstein emphasized the partnershipās strategic value: āWith Anduril by our side, and this new influx of capital, we will accelerate the development and deployment of advanced aerospace technologies at scale.ā
The funding arrives at a critical juncture for the electric vertical takeoff and landing (eVTOL) industry, which faces financial pressures and regulatory hurdles. Analysts, however, regard Archer as one of the sector’s most resilient players, positioning it well to achieve certification and operational viability. The company, which is also developing a five-seater commercial eVTOL, stated that the capital infusion eliminates near-term financing concerns.
Archer ended the third quarter with $502 million in cash and equivalents, bringing its total funding raised to nearly $2 billion. This latest investment bolsters its efforts as the eVTOL sector anticipates potential opportunities under the incoming U.S. administrationās focus on innovative defense technologies.