Dec 12, 02:32 PM

Archer Aviation Secures $430M, Partners with Anduril for Military VTOL Aircraft

Archer Aviation Inc. has announced a strategic partnership with Anduril Industries Inc. to develop a hybrid propulsion, vertical takeoff and landing (VTOL) aircraft for military applications. The collaboration aims to leverage Anduril's AI software, Lattice, to enhance the capabilities of the aircraft, which will be built at Archer's facility in Georgia. Archer has also raised $430 million in a new funding round, with contributions from existing investors like Stellantis and United Airlines, as well as new investors such as Wellington Management and 2PointZero. This funding will support the development of the military aircraft under the new Archer Defense program. The partnership targets a potential program of record from the Department of Defense (DOD), which could provide significant funding and opportunities for Archer.