Aircraft Startup Beta Raises $375 Million For Electric Cargo Copter, Charging Business

  • 📰 Forbes
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 53%

Business News News

Business Business Latest News,Business Business Headlines

Beta Technologies, an electric aircraft startup working with UPS and backed by Amazon, said it raised a further $375 million to prepare to build a fleet of cargo-delivery copters and the charging network they’ll need to keep them powered up.

, said it raised a further $375 million to prepare to build a fleet of cargo-delivery copters and the charging network they’ll need to keep them powered up.

The South Burlington, Vermont-based company said the Series B round was led by TPG’s Rise Climate fund and Fidelity and boosts its valuation to $2.4 billion. Beta has raised about $800 million as it works to get its nonpolluting Alia eVTOL craft approval by the Federal Aviation Administration. “This support allows us to complete the construction of our production facilities and accelerate our certification work to create a greener and more efficient future for all applications of aviation, starting with cargo and logistics and moving to passenger missions immediately thereafter,” said Kyle Clark, Beta’s founder and CEO, in a statement.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 394. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Aircraft Startup Beta Raises $375 Million For Electric Cargo Copter, Charging BusinessAircraft startup Beta raises $375 million for electric cargo copter, charging business alanohnsman
Source: ForbesTech - 🏆 318. / 59 Read more »

Aircraft Startup Beta Raises $375 Million For Electric Cargo Copter, Charging BusinessAircraft startup Beta raises $375 million for electric cargo copter, charging business alanohnsman
Source: ForbesTech - 🏆 318. / 59 Read more »