Archer Aviation, an NYSE-listed eVTOL aircraft manufacturer, has raised a further USD 175 million in equity capital, including participation from existing investors Stellantis and United Airlines. The funding combined with the USD 55 million raised from Stellantis earlier in July 2024 , brings the total funding raised since July to USD 230 million.

Archer reported that the funding raised will support working capital and general corporate purposes.

Stellantis also signed an agreement with Archer to fund a further USD 400 million to boost its manufacturing of up to 650 aircraft annually and to cover the aircraft manufacturer's labor costs and capital expenditures till 2030 in exchange for Archer shares.

Analyst QuickTake: The funding will bolster Archer's operations expansion efforts, including its air taxi networks being developed in conjunction with Southwest Airlines , Kilroy Realty Corporatio n, and Signature Aviation for California, San Francisco, and airports across the US, respectively. Archer also recently received two Midnight purchase orders of ~USD 580 million from Future Flight Global and ~USD 142 million from the US Air Force .