Beta Technologies, a South Burlington, Vermont-based developer of integrated electric aviation ecosystem, raised $368m in funding.
The round was led by Fidelity Management & Research Company.
Thee company intends to use the funds for the development of an integrated system for Electric Vertical Aviation (EVA).
Led by Kyle Clark, Founder and CEO, Beta Technologies is creating an electric transportation ecosystem including an extensive charging infrastructure and ALIA, an advanced electric vertical aircraft (EVA). Alia’s fixed-pitch propellers and centrally located batteries make it an inherently stable aircraft that is safe to fly and easy to maneuver, putting it on a direct path to Part 23 FAA certification.
Beta’s team include the Federal Aviation Administration, the armed services, Boeing, Tesla, SpaceX, Lockheed Martin and General Electric.