BETA Technologies secures $318 Million in Series C funding
The US-based electric vertical take-off and landing (eVTOL) aircraft developer, BETA Technologies (BETA), has recently raised $318 million in a Series C funding round, led by Qatar Investment Authority (QIA).
The latest investment is set to accelerate the production, certification, and commercialisation of BETA’s all-electric ALIA aircraft.
Additionally, existing investors, including Fidelity Management & Research Company and TPG Rise Climate, increased their stakes, while United Therapeutics, a long-standing customer of BETA, joined as a new investor.
With this capital infusion, BETA’s total equity funding now surpasses $1 billion.
Currently, BETA is collaborating closely with the US Federal Aviation Administration (FAA) to certify two variants of the ALIA model: the ALIA CTOL, which operates with conventional runway take-offs and landings, and the ALIA VTOL, which provides vertical take-off and landing capabilities without the need for a runway.
Commenting on the funding, BETA’s Founder and CEO, Kyle Clark, stated, “This investment validates progress and milestones toward commercialising electric aviation.”
He added, “For years, we have flown across the country and deployed with partners to prove the safety and reliability of our aircraft and chargers. Now, we are beginning to produce products for our customers. This continued belief and trust in this team and our vision will be good for the investors and good for the world.”
Sustainable growth
Furthermore, the Series C round supports the expansion of BETA’s charging infrastructure, which includes UL Certified multimodal charging systems claimed to be a first in the industry.
This infrastructure is central to BETA’s goal of establishing a comprehensive network of charging stations at airports across the US.
In addition, BETA recently inaugurated a nearly 200,000-square-foot manufacturing facility, which is capable of producing up to 300 aircraft annually, with plans to deliver its first batch in the coming months.
The facility will fulfil contracts with notable global operators, including Air New Zealand, UPS, the US Air Force, United Therapeutics, and Blade Urban Air Mobility.
QIA’s Chief Investment Officer for the Americas, Mohammed Al-Sowaidi, explained the fund’s decision to lead the round, stating, “At QIA, we seek out companies that are well-positioned to become category leaders by addressing critical challenges with innovative solutions.”
He added, “BETA is a leader in the electric aviation market, and our participation in this funding round is fully aligned with QIA’s efforts to invest in companies that are making the energy transition a reality.”
In a related development, BETA Technologies recently hosted a high-level delegation from the UAE’s General Civil Aviation Authority (GCAA) at its Vermont facility.
Led by GCAA Director General H.E. Said Mohammed Al Suwaidi, the delegation engaged with BETA executives, including Clark, to explore potential collaborations and expertise exchange in advanced electric aviation.