The Archer Aviation was locked up with $850 million in new funds. That’s an eye-opening sum that came just after former President Donald Trump signed up for an executive order aimed at promoting the deployment of U.S. electric air taxis.
The funding follows the White House’s announcement of its EVTOL integrated pilot program. It aims to quickly track the deployment of electric vertical takeoffs and landing aircraft across the country. Trump’s orders also aim to strengthen the US defense against drones and rekindle interest in supersonic commercial jets.
“This executive order is a key moment for Archer and the EVTOL industry,” Archer CEO and founder Adam Goldstein said in a news release. “We currently have the most powerful balance sheet in this sector and have the resources we need to run both here in the US and overseas. Archer’s future is not bright.”
With the fresh capital, Archer says its liquidity is now around $2 billion, giving it important room for engineering, regulatory approval and commercial launches both at home and abroad.
The pay raise follows a $300 million round earlier this year, led by institutional investors, including funds managed by BlackRock. Momentum is built fast. In April, Archer revealed plans to launch an air taxi network in New York City through a partnership with United Airlines. The company is also used as the official air taxi service for the 2028 Olympics held in Los Angeles.
In 2022, United Airlines signed a contract with Archer, delivering 250 flying taxis in 2025, fulfilling a billion dollar order from United Airlines
As Archer prepares for LA28, they will work closely with the White House, the Department of Transport and the FAA to align the new pilot program with the rollout. The company says that if the US wants to lead in this emerging sector, government-wide collaboration is important.
Before its release, Archer was one of many players in the increasingly busy EVTOL space. There, startups are racing to bring battery-equipped aircraft to market as airlines are putting pressure on airlines to cleanse their emissions. Archer’s biggest competitors include Joby Aviation and Germany-based Lilium.
Founded in 2020 by Adam Goldstein and Brett Adcock, the California-based company is building electric aircraft designed to improve city mobility. The Archer’s vehicle is built to carry four passengers, travel up to 60 miles, and hit speeds of 150 mph.
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