Archer teams up with Anduril and raises $430 million to build defense aircraft | TechCrunch

Image for article Archer teams up with Anduril and raises $430 million to build defense aircraft | TechCrunch
News Source : TechCrunch

News Summary

  • Archer Aviation has raised an additional $430 million in equity from existing investors Stellantis and United, as well as new institutional investors like Wellington Management and 2PointZero
  • The raise brings Archer’s total financing to nearly $2 billion
  • Archer has signed an exclusive partnership with weapons manufacturer Anduril to jointly develop a hybrid gas-and-electric-powered VTOL aircraft
Funding to defense tech companies has boomed in 2024 as geopolitical tensions rise, advancements in AI abound, and investors seek out a new growth area amid a broader tech sector slowdown.Archer A [+4754 chars]

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