Archer has raised $300 million in new funding, strengthening its financial position as it accelerates the development of hybrid-propulsion aircraft for defense applications.
The investment, led by funds and accounts managed by BlackRock, increases Archer’s total liquidity to approximately $1 billion.
See also: Archer Aviation Secures $430 Million to Develop Hybrid Aircraft with Anduril Industries
The company launched Archer Defense in December, focusing on next-generation vertical take-off and landing (VTOL) aircraft for military use. “I believe the opportunity for advanced vertical lift aircraft across defense appears to be substantially larger than I originally expected,” said Archer CEO Adam Goldstein. “As a result, we are raising additional capital to help us invest in critical capabilities like composites and batteries to help enable us to capture this opportunity and more.”
Beyond its defense initiatives, Archer continues working toward commercial operations, with progress on FAA certification and the completion of its ARC manufacturing facility. Preliminary financial results for the fourth quarter of 2024 estimate GAAP operating expenses between $120 million and $140 million, with non-GAAP expenses ranging from $95 million to $110 million. The company expects non-GAAP operating expenses for the first quarter of 2025 to remain in line with this range.
See also: Archer Aviation Secures Major eVTOL Deal in Japan with Soracle Corporation
The newly raised funds will be used to advance aircraft manufacturing capabilities, including battery and composite technology, while supporting general corporate operations as Archer prepares for commercialization in 2025.
