Archer raises $215m in funding, works with Boeing after legal spat resolved

Archer Aviation Inc. said it raised $215m in funding and patched up a legal dispute with Boeing, paving the way for the electric air-taxi startup to collaborate with its former adversary on future designs. Archer received investments from Boeing, as well as existing backers Stellantis, United Airlines and tech-focused Ark Invest, it said in a statement Thursday. The California startup will work with Boeing and its Wisk Aero LLC flying-taxi venture on autonomous flight technology, it said. Collaborating with Wisk will give Archer a powerful supplier for autonomous technology, even as it works to win approvals for its initial model requiring a human pilot. Archer is targeting 2025 for an entry into service of its Midnight electric vertical take-off and landing aircraft, or eVTOL, a five-seat craft with tilting propellers. Archer said Thursday that the Midnight received a Special Airworthiness Certificate from the US Federal Aviation Administration, allowing the company to begin flight tests in coming weeks. Archer must still demonstrate that the aircraft meets safety requirements. Manufacturing partner Stellantis, the maker of Jeep and Ram vehicles, accelerated $70m in funding pledged under a partnership agreement announced in January. Archer said $55m remains available under the facility. In June, Stellantis raised its stake in Archer through open-market stock purchases. Archer didn’t disclose details of the investments from Boeing, United and Ark. The company said it will save significant development costs by sourcing autonomy technology from Boeing’s Wisk, which is focused on pilotless aircraft. The two sides were scheduled to go to trial on their patent dispute in September. Ark is already one of Archer’s biggest shareholders. United agreed to invest $20m in Archer in 2021 and has since made a $10m down payment on future deliveries.<br/>