eVTOL Startup Beta Technologies Raises $375 Million in Series B Funding

Vermont-based electric vertical takeoff and landing (eVTOL) aircraft developer Beta Technologies announced Wednesday it has raised $375 million in Series B funding, bringing its total investments to nearly $800 million.

Thom Patterson

Wednesday, April 20, 2022 at 12:05 PM ET

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Beta Technologies says it expects to achieve FAA type certification for its Alia eVTOL in 2024. [Courtesy: Beta Technologies]

Key Takeaways:

Beta Technologies secured $375 million in Series B funding, bringing its total investments to nearly $800 million, to advance the development and type certification of its Alia eVTOL aircraft.
The funding will accelerate the certification (expected 2024) of the Alia eVTOL, which is designed for zero-emission, low-noise short-haul flights, initially for cargo and logistics, then passenger missions.
Beta has received significant orders from customers like UPS Flight Forward and United Therapeutics, and is additionally building a universal charging station network for all electric vehicles.

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The money will support further development and eventual type certification of Beta’s Alia eVTOL, which is currently undergoing flight testing. With a wingspan of 50 feet, four fixed rotors, and a single rear-mounted propeller, the battery-powered aircraft has achieved a top speed of about 150 kts with a targeted range of 250 nm on a single charge. Designed for a payload of 1,400 pounds—or a pilot and five passengers—the eVTOL is designed to fully recharge in under an hour. Beta has said it expects FAA type certification in 2024.