Archer Raises $300M to Expand Air Taxi Network and Defense Ventures
Massive Investment for Urban Air Mobility
Archer, a leading developer of electric vertical takeoff and landing (eVTOL) aircraft, has secured $300 million in new funding, bringing its total available capital to nearly $1 billion. The company plans to build production facilities and launch its air taxi service in Los Angeles by 2026, helping reduce traffic congestion ahead of the 2028 Olympics.
The latest funding round attracted major institutional investors, including BlackRock and Wellington. This follows Archer’s $430 million funding round in December, which saw investments from Anduril, United Airlines, Stellantis, and Abu Dhabi 2PointZero.
Expanding into the Defense Sector
Beyond urban air mobility, Archer is entering the defense industry. The company has partnered with Anduril to develop a hybrid VTOL aircraft powered by gas and electricity. This collaboration aims to secure long-term contracts under a U.S. Department of Defense program, ensuring financial backing for the project.
The Midnight eVTOL: A Game-Changer in Air Transport
Archer’s flagship aircraft, the Midnight, is designed for four passengers and one pilot. It boasts a 160 km range and a top speed of 241 km/h, using tilt-rotor technology for seamless transitions between vertical and horizontal flight. Unlike traditional helicopters, Midnight is nearly silent and produces zero emissions, making it an environmentally friendly alternative for urban transportation.
What’s Next for Archer?
With substantial funding and growing industry partnerships, Archer is set to revolutionize urban air travel. By 2026, Los Angeles could see the world’s first large-scale air taxi network, offering a faster, quieter, and more sustainable alternative to road transport. At the same time, Archer’s defense collaboration could secure a strong foothold in military aviation.
