Goldstein told TechCrunch back in October that most of the capital expenditures to get the factory up and running have already been spent, so now it’s about scaling Midnight eVTOLs while also developing the hybrid defense aircraft.
Today’s raise brings Archer’s total liquidity to well over $1 billion, extending its runway for “multiple years” through commercialization and the initial phases of defense work, according to Goel.