Transportation
Archer Raises $215 Million in Funding, Works With Boeing After Legal Spat Resolved
- Startup’s Midnight model gets FAA clearance to begin testing
- Stellantis, United, Ark among investors in latest fundraising
Archer’s Midnight eVTOL.
Photographer: Emmanuel Dunand/AFP/Getty Images
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Archer Aviation Inc. said it raised $215 million in funding and patched up a legal dispute with Boeing Co., paving the way for the electric air-taxi startup to collaborate with its former adversary on future designs.
Archer received investments from Boeing, as well as existing backers Stellantis NV, United Airlines Holdings Inc. and tech-focused Ark Invest, it said in a statement Thursday. The California startup will work with Boeing and its Wisk Aero LLC flying-taxi venture on autonomous flight technology, it said.