Mentioned:
The world’s largest asset manager is getting behind an electric air taxi company. But, why?
What’s happening:
- Archer Aviation (NYSE: ACHR) has raised $301.75M USD in a new equity financing round
By the numbers:
- The new funding round was done at $8.50 USD per common share
- Archer Aviation now has roughly $1B USD in total cash and available liquidity to continue to build out electric air taxis and other vertical takeoff and landing aircraft
Why it matters:
- Funds that are solely managed by asset management giant BlackRock led the financing round, which is a notable sign of validation for Archer Aviation’s technology innovation in electric vertical takeoff and landing aircraft
Going deeper:
- Archer Aviation recently made waves when they announced a new partnership with defense tech giant Anduril to develop new types of vertical takeoff and landing aircraft for American military purposes
