Archer Aviation has raised an additional $850m through a registered direct offering, taking the total funds secured by the electric vertical takeoff and landing (eVToL) aircraft maker to approximately $2bn.
The capital was raised shortly after an executive order was issued, last week, by President Trump to implement an eVTOL integration pilot programme in the US.
Official air taxi provider
Archer reports that it intends to closely coordinate with the White House, Department of Transportation and the Federal Aviation Administration on how this can integrate into its plans to ramp its operations in the US ahead of the LA 28 Olympic Games. Archer has been designated official air taxi provider of the Olympic Games and Team USA.
Source: smartcitiesworld.net
Picture credit: Archer
