- Archer Aviation raises USD 850M to boost air taxi operations and expand into early launch markets including the UAE and MENA.
- New funding follows U.S. push for eVTOL integration, with executive orders and pilot programs backing flying car technology.
- Archer eyes UAE for first MENA-based flying taxi launch, as it gears up for 2028 LA Olympics air mobility rollout.
Archer Aviation
What happened? US-based Air taxi company Archer Aviation raised USD 850 million by selling 85 million shares at USD 10 each.
This comes after previously raising USD 430 million in additional equity capital. The funding came from Stellantis, United Airlines, Wellington Management and Abu Dhabi’s 2PointZero.
What is next? With the newly acquired capital, it aims to fund its general corporate needs. Additionally, it will focus on building Archer’s commercial capability including infrastructure to support Archer’s early launch markets.
Most importantly. Archer is heading toward manufacturing an electrical aerial vehicle manufactured and operated in the MENA region. In addition, it aims to launch commercial flying taxi operations in the UAE.
Flying Cars
What is the context? The funding came after the White House announced its intent to implement an eVTOL Integration Pilot Program in the United States. This is to accelerate the deployment of electric vertical takeoff and landing vehicles in the U.S.
Archer plans to coordinate with the Department of Transportation and the Federal Aviation Administration to ramp its operations. This is ahead of the Los Angeles 2028 Olympic Games, where Archer is the official air taxi provider of the Olympics and Team USA. This would allow passengers to go to a vertiport take-off and landing hub near a key venue and then fly 10-20 minutes to a destination within the Archer Los Angeles network.
Additionally, last week President Trump signed three executive orders relating to drones and flying cars. These orders are for the pilot program to test eVTOL vehicles for air taxis, cargo and defense logistics.
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