Vertical Aerospace founder Stephen Fitzpatrick committed $50 million to the company, extending its cash runway into mid-2025 as it faced financial struggles and difficulty attracting external investors.
This investment follows a challenging period for Vertical Aerospace, including a dramatic stock price drop, a NYSE delisting threat, certification delays, and the crash of its first VX4 prototype.
Despite past setbacks, the company is progressing with a second-generation VX4 prototype ("Aircraft Two") for flight tests and public demonstrations this year, aiming for 2026 certification to fulfill its $5 billion preorder 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.
