Beta Technologies, the US maker of electric aircraft, today announced it has raised $368 million in A Series A funding round led by Fidelity Management & Research Company, Amazon's Climate Pledge Fund follows.
Beta, the maker of electric airplanes, raised $368 million with Amazon
Beta Technologies said the money will support its continued development of electric vertical take-off and landing systems. Specifically, Beta Technologies continues to refine its electric propulsion and control systems, as well as the construction of its manufacturing facilities. Beta Technologies is also in the process of advancing FAA certification.
Kyle Clark, Beta Technologies Founder and CEO, said, "We are proud that such a diverse group of investors has placed such confidence in our team. These funds will enable us to continue to recruit the best talent, meet FAA certification standards, increase production of the Alia electric aircraft, and accelerate the rollout of high-speed, universal charging infrastructure."
Kara Hurst, vice president and head of global sustainability at Amazon, said: "We support Beta Technologies' mission to reshape air transportation through zero-emission aviation and are proud to have invested in it through Amazon's $2 billion Climate Commitment Fund. The development of sustainable and decarbonizing technologies can help facilitate the transition to a low carbon economy and protect the planet for future generations."
Beta Technologies recently received the first airworthiness approval from the U.S. Air Force for a manned electric aircraft, a key step toward widespread adoption of electric aircraft. Beta Technologies partners include aviation medical delivery, freight logistics, government, and passenger travel, including United Therapeutics, United Parcel Service, the U.S. Air Force, and Blade, among others.