Vertical Aerospace founder and CEO, Stephen Fitzpatrick, is investing $50 million into the company to alleviate a projected cash shortage and extend its financial runway into mid-2025.
This self-funding comes after the eVTOL manufacturer faced significant challenges, including a prototype crash, certification delays, a dramatic stock price dip, and difficulty attracting external investors, leading to a NYSE delisting threat.
Despite past setbacks, the company is progressing with a new, improved VX4 prototype (Aircraft Two) which is nearing completion for flight testing and public demonstrations this year, aiming for 2026 certification to fulfill its substantial pre-order backlog.
An air taxi founder is putting his money where his mouth is.
Stephen Fitzpatrick—founder, CEO, and majority owner of electric vertical takeoff and landing (eVTOL) aircraft manufacturer Vertical Aerospace—on Monday committed to invest $50 million into the company, which risked running out of cash by September per its own projection.
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Jack is a staff writer covering advanced air mobility, including everything from drones to unmanned aircraft systems to space travel—and a whole lot more. He spent close to two years reporting on drone delivery for FreightWaves, covering the biggest news and developments in the space and connecting with industry executives and experts. Jack is also a basketball aficionado, a frequent traveler and a lover of all things logistics.
