Archer raises $300 million for hybrid defense aircraft platform

Midnight eVTOL platform, which uses composites, in flight. Source | Archer Aviation

On Feb. 11, Archer Aviation Inc. (Santa Clara, Calif., U.S.) announced it has raised $300 million, further reinforcing its strong financial position to accelerate the development of its Midnight hybrid aircraft platform for the defense market and beyond. The company launched Archer Defense in December 2024 alongside Anduril Industries (Costa Mesa, Calif., U.S.) to jointly develop a vertical takeoff and landing (VTOL) aircraft for critical defense applications.

Several institutional investors participated in this financing, including funds and accounts managed by BlackRock. This raise brings Archer’s total liquidity position to ~$1 billion. 

“I believe the opportunity for advanced vertical lift aircraft across defense appears to be substantially larger than I originally expected,” says Adam Goldstein, founder and CEO of Archer. “As a result, we are raising additional capital to help us invest in critical capabilities like composites and batteries to help enable us to capture this opportunity and more.”

Archer says it also continues to be well-positioned for its commercialization effort. Paired with the completion of construction of its ARC manufacturing facility, continued progress towards Federal Aviation Administraiton (FAA) certification and launch of its cross-industry consortium in the UAE, Archer is tracking well toward its goals in 2025 and beyond.

The net proceeds from the this most recent financial round will be used for the development of its aircraft manufacturing capabilities, including batteries and composites, and the remainder for general corporate purposes.