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Archer [ACHR] on Tuesday said it has raised $300 million from institutional investors that it will put toward development of advanced manufacturing—to include batteries and composites—related to its hybrid-propulsion vertical take-off-and-landing (eVTOL) aircraft for commercial and defense applications. The new funding follows a $430 million equity capital raise announced in December to support hybrid-propulsion development (Defense Daily, Dec. 12, 2024). At the time, the company said it had no additional near-term funding needs. Both funding raises are also being put…
