Rivals in the space like Joby Aviation and Beta Technologies also have military contracts to test their aircraft for surveillance, logistics, and reconnaissance missions. Archer has its own such contracts with the military, but what it’s chasing now via the program of record is guaranteed funding, a path to scale, and a serious competitive moat.
Goel confirmed that the $300 million from investors will mainly be used to accelerate the work Archer is doing with Anduril to build a hybrid VTOL, though he didn’t share any updates on the company’s bid with the DOD.