Air-taxi maker Archer Aviation said on Tuesday it has raised $300 million in a funding round that consisted of institutional investors including accounts managed by BlackRock. Archer expects the capital raise to help it accelerate the development of its hybrid aircraft platform and further reinforce its balance sheet.

The electric vertical takeoff and landing (eVTOL) aircraft industry is approaching commercialization in late 2025, promising to revolutionize transportation in urban areas and beyond. Morgan Stanley, a top investment bank, estimates the eVTOL market could reach trillions of dollars by mid-century, creating a powerful investment trend.

Escalating geopolitical tensions and a new administration with a hawkish defense agenda have led many startups to embrace dual-use strategies to secure

Start-up Archer Aviation will now have access to about $1 billion to work on an electric vertical-take-off-and-landing vehicle.

Electric vertical takeoff and landing aircraft company Archer Aviation Inc. announced today that it has raised $300 million in new funding via an equity capital raise. The $300 million in funding, raised through a securities purchase agreement,