Public announcements or financial disclosures from Archer Aviation

Archer Aviation Raises $430 Million, Partners with Anduril to Develop Hybrid VTOL Aircraft for Department of Defense

Dec 12, 2024, 03:39 PM

Archer Aviation has announced a strategic partnership with Anduril Industries to develop a hybrid-propulsion vertical-lift aircraft for military applications. The collaboration comes alongside a significant funding round, with Archer raising $430 million from investors to support its new Archer Defense program. The initial project aims to create a next-generation aircraft that could potentially align with Department of Defense (DOD) initiatives. This partnership reflects a growing interest in defense technology amid rising geopolitical tensions, as startups increasingly view the DOD as a vital source of funding for innovative technologies. Archer's CEO, Adam Goldstein, expressed optimism regarding the new administration's support for the company's initiatives in defense technology.