For Farnborough and Oshkosh, explore our Airflow newsfeed for all the latest industry headlines.

Beta Technologies proves staying private can still pay off

With a $375 million Series B, the Vermont-based eVTOL developer has raised nearly $800 million without going public.

Log-in here if you’re already a subscriber

Release Date
April 19, 2022
Beta Technologies proves staying private can still pay off
Beta Technologies has secured another $375 million to advance development of its electric vertical take-off and landing aircraft, suggesting that private investors still see considerable promise in eVTOL technology, even as the stock market has soured on it.

TPG Rise Climate and Fidelity Management and Research Company led the Series B round. Fidelity also led the $368 million Series A round announced last May, which was joined by Amazon’s Climate Pledge Fund.

Read: Embraer SPAC deal reflects changed funding landscape for eVTOL developers

To date, Vermont-based Beta has raised a total of $796 million, becoming one of the best capitalized players in the emerging eVTOL market while managing to remain private. Thanks to mergers with special purpose acquisition companies last year, Joby Aviation, Lilium and Archer Aviation have all raised more than Beta, but must now contend with the pressures and reporting requirements of being publicly listed companies.

Subscribe to continue Reading...

Zeen is a next generation WordPress theme. It’s powerful, beautifully designed and comes with everything you need to engage your visitors and increase conversions.