, 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 non-polluting, quest 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.