Archer has raised US$430 million in equity funding to support its collaboration with Anduril Industries (Anduril) on the development of hybrid vertical take-off and landing (VTOL) aircraft for defence applications and for other general corporate purposes. The new partnership with Anduril targets a potential programme with the U.S. Department of Defence (DoD) and aims to deliver cutting-edge capabilities with accelerated timelines and reduced costs.
Archer brings its expertise in rapidly designing and manufacturing advanced VTOL aircraft using commercial components and supply chains. Anduril contributes its deep proficiency in artificial intelligence, systems integration, and missionisation, creating a powerful synergy to meet urgent national security needs. The project will be carried out under Archer's newly launched defence initiative, Archer Defense.
The recent funding round saw participation from strategic and institutional investors, including Stellantis, United Airlines, Wellington Management and Abu Dhabi-based 2PointZero, a subsidiary of International Holding Company (IHC). This capital injection brings Archer's total funding to nearly US$2 billion, positioning it as one of the most well-capitalised companies in the sector. With US$502 million in cash and cash equivalents reported at the end of Q3 2024, Archer is now financially secure with no immediate need for additional funding.
“Rapid innovation and scalable production are crucial to maintaining technological superiority,” said Shane Arnott, Senior Vice President of Engineering at Anduril. “We are excited to work with Archer to deliver advanced vertical-lift aircraft that address critical defence challenges.”
Adam Goldstein, CEO of Archer, remarked: “This funding, along with our partnership with Anduril, accelerates our ability to design, engineer, and deploy next-generation aerospace technologies at scale.”
Archer Defense will be led by Joseph Pantalone, a seasoned veteran with nearly three decades of experience at Lockheed Martin and Sikorsky. He will be supported by Archer's Defence Advisory Board, comprising distinguished retired military leaders.
This collaboration underscores Archer's commitment to advancing aerospace innovation while addressing the evolving needs of the defence sector.
