Archer partners with Anduril to develop hybrid VTOL aircraft for defence, raises $430 million in backing
US-based electric vertical take-off and landing (eVTOL) aircraft manufacturer, Archer Aviation (Archer), has announced an exclusive partnership with Anduril Industries (Anduril) to develop hybrid VTOL aircraft tailored for defence applications.
The collaboration aims to target a potential programme of record with the US Department of Defense (DoD).
Furthermore, the partnership leverages Archer’s expertise in designing advanced VTOL aircraft using commercial-grade parts and supply chains, alongside Anduril’s proficiency in artificial intelligence, missionisation, and systems integration.
Archer’s contributions to this project will fall under its newly established Archer Defense programme, which is spearheaded by Joseph Pantalone, the company’s Head of Advanced Projects.
Pantalone has nearly 30 years of experience in military aviation and has previously held key positions at Lockheed Martin and Sikorsky.
He will collaborate closely with Archer’s defence advisory board, a panel of highly distinguished retired military leaders formed in May 2023.
“This partnership with Anduril is a significant step forward in advancing aerospace technologies for national security needs,” said Adam Goldstein, Founder and CEO of Archer.
“With Anduril by our side and this new influx of capital, we will accelerate the development and deployment of advanced aerospace technologies at scale.”
Additionally, highlighting the importance of this collaboration, Shane Arnott, Senior Vice President of Engineering at Anduril, said, “Rapid innovation and scalable production are critical for maintaining technological superiority.”
He continued, “Anduril and Archer share a common vision for advancing capabilities that meet urgent national security needs, and we look forward to partnering with Archer to bring advanced vertical lift aircraft to our customers.”
Additional equity capital
Furthermore, to support its defence programme and other corporate initiatives, Archer also raised $430 million in additional equity capital.
Participants in the funding round included Stellentis, United Airlines, Wellington Management, and Abu Dhabi investment holding company 2PointZero, a subsidiary of International Holding Company (IHC), the UAE’s largest listed entity.
Moreover, the company closed the third quarter of 2024 with $502 million in cash and cash equivalents; the latest capital raise brings its total funding to nearly $2 billion.
Archer affirmed that it has no near-term financial needs following this transaction and its previously announced financial arrangements.