Archer Aviation Partners With Anduril, Gets $430 Million in Backing
- Company makes electric aircraft that lift off vertically
- Stellantis, United Airlines participated in PIPE deal
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Electric aircraft maker Archer Aviation Inc. has brought in $430 million from investors, the company said Thursday, and announced a new partnership with weapons maker Anduril Industries Inc. to build a hybrid military aircraft.
The financing is a private investment in public equity, or PIPE. Investors in the deal include Stellantis NV, United Airlines Holdings Inc., Wellington Management and Abu Dhabi investment holding company 2PointZero. Archer said the investment will bolster its work on aircraft for the Defense Department and other general purposes.