BETA Technologies, a South Burlington, VT-based electric aviation company, raised more than $300M in Equity funding.
The round was led by QIA, with participation from Fidelity Management & Research Company, TPG Rise Climate, and United Therapeutics.
The company intends to use the funds for the continued production, certification, and commercialization of its solutions, which include its all-electric fixed-wing and eVTOL aircraft ALIA, advanced high performance electric propulsion systems, as well as its multimodal charging systems and growing infrastructure network.
Led by CEO and Founder Kyle Clark, BETA Technologies is an electric aviation company producing all-electric aircraft, multimodal, interoperable charging infrastructure, and training programs for next-generation pilots and maintainers. The company serves both commercial and military customers across cargo, logistics, medical, and passenger applications.
BETA is certifying two variants of its all-electric aircraft with the FAA: (i) the ALIA CTOL, which uses a runway to take off and land conventionally; and (ii) the ALIA VTOL, which is runway independent as it takes off and lands vertically.
In late 2023, BETA opened up a nearly 200,000 square foot manufacturing facility, where the team is currently producing aircraft for delivery to customers and charging cubes for deployment to the network. As they come off the line, these aircraft will begin to fulfill BETA’s deposit-backed contracts with global operators including Air New Zealand, UPS, United Therapeutics, Blade Urban Air Mobility, Bristow, Helijet, LCI, the U.S. Air Force, and the U.S. Army.
