Archer Aviation, an electric vertical takeoff and landing (eVTOL) aircraft developer based in California, has secured US$300 million in equity funding.

The funding round included contributions from institutional investors such as BlackRock and Wellington, bringing the company’s total funding to US$3.36 billion.

The funds will support Archer’s collaboration with defense contractor Anduril to develop a hybrid gas-and-electric VTOL aircraft under the Archer Defense program.

This initiative aims to secure funding from the Department of Defense and leverage eVTOL technology for discreet military operations.

Despite its defense push, Archer remains focused on launching its commercial air taxi service.

The company is also progressing on its Georgia manufacturing facility with Stellantis, aiming to produce 650 aircraft per year by 2030.

Recent Archer Aviation developments