BETA Technologies, Inc. has raised $318 million in Series C equity capital to propel the production, certification, and commercialization of its electric aerospace solutions.
The funding will support the continued ramp-up in production and delivery of BETA’s ALIA CTOL, ALIA VTOL, electric propulsion systems, and multimodal charging technology.
QIA led the raise and several of BETA’s largest investors, including Fidelity Management & Research Company and TPG Rise Climate, increased their ownership in BETA.
Longtime customer United Therapeutics also joined this round as an investor. To date, BETA has raised more than $1 billion in equity capital.
BETA’s all-electric aircraft, which are optimized for payload and range, sit at the center of its vision to make air transportation more reliable, greener, and cheaper. BETA is certifying two variants of its all-electric aircraft with the FAA:
- ALIA CTOL – Uses a runway to take off and land conventionally.
- ALIA VTOL – Runway independent as it takes off and lands vertically.
These aircraft share structural similarities, and both leverage BETA’s high performance electric propulsion technologies and fly-by-wire flight control systems. BETA plans to certify cargo and passenger configurations of both aircraft, serving both commercial and military users.
Kyle Clark, BETA’s Founder and CEO, commented, “This investment validates progress and milestones toward commercializing electric aviation. For years, we’ve flown across the country and deployed with partners to prove the safety and reliability of our aircraft and chargers. Now, we’re beginning to produce products for our customers. This continued belief and trust in this team and our vision will be good for the investors and good for the world. We are grateful for their shared vision.”
Mohammed Al-Sowaidi, Chief Investment Officer for Americas at QIA, added, “At QIA, we seek out companies that are well-positioned to become category leaders by addressing critical challenges with innovative solutions. BETA is a leader in the electric aviation market and our participation in this funding round is fully aligned with QIA’s efforts to invest in the companies that are making the energy transition a reality.”
BETA has begun aircraft production, and is set to commence deliveries to customers in the coming months. The business will continue to increase production rates over the following 18-24 months.
As it boosts production and certification efforts, BETA will continue working closely with its customers to ensure the delivery of a robust pilot and maintenance training program, and aftermarket support systems beginning day one.
