Beta Raises $375 Million for AAM Cargo Aircraft | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-05.13.24

Airborne-NextGen-05.14.24

Airborne-Unlimited-05.15.24 Airborne-AffordableFlyers-05.16.24

Airborne-Unlimited-05.17.24

Sun, Apr 24, 2022

Beta Raises $375 Million for AAM Cargo Aircraft

Beta Technologies Continues Marching Forward with Successful Series B Round for Alia Cargo Aircraft

The Vermont company said its Series B round was led by TPG's Rise Climate fund, with assistance from Fidelity.

The $375 million brings its total valuation to $2.4 billion in its quest to develop its Alia aircraft. The investment will allow them to further develop the ecosystem required for a cargo version of the Alia, from charging to fleet support.

Beta has been hard at work courting clientele for its future wares, receiving the affections of UPS and AmazonAMZN, in addition to the Air Force and United Therapeutics, among others. They anticipate a passenger model to be part of their future offerings, but their primary focus has been to supply fully electric cargo haulers for the logistical backbone of the US. That tactic may prove wise, given the simplicity of the cargo market in comparison to cultivating ridership. 

Being able to offer services at a solid rate is far simpler than building an air taxi ecosystem more enticing than the range of competitors expected to arrive on scene in the coming years. The Alia is expected to offer a range of around 250 nautical miles with a correctly prepared payload, but they have said in the past that they could very well be restricted to half that by the FAA for a time. 

In a statement addressing the funding round, Kyle Clark, founder and CEO, said the money "allows us to complete the construction of our production facilities and accelerate our certification work to create a greener and more efficient future for all applications of aviation, starting with cargo and logistics and moving to passenger missions immediately thereafter." 

FMI: www.beta.team

Advertisement

More News

ANN's Daily Aero-Term (05.16.24): Instrument Runway

Instrument Runway A runway equipped with electronic and visual navigation aids for which a precision or nonprecision approach procedure having straight-in landing minimums has been>[...]

ANN's Daily Aero-Linx (05.16.24)

Aero Linx: Alaska Airmen's Association The Alaska Airmen's Association includes over 2,000 members—we are one of the largest General Aviation communities in the country. We s>[...]

Airborne 05.15.24: Ghost Sq MidAir, B-2 Junked, Dream Chaser Readies

Also: Flt School Security, G600 Steep-Approach, Honduran Aid, PW545D Cert Two aircraft performing at the Fort Lauderdale Air Show clipped wings during a routine last Sunday, spooki>[...]

Airborne 05.10.24: Icon Auction, Drunk MedEvac Pilot, Bell ALFA

Also: SkyReach Parts Support, Piper Service Ctr, Airliner Near-Miss, Airshow London The Judge overseeing Icon's convoluted Chapter 11 process has approved $9 million in Chapter 11 >[...]

Airborne Affordable Flyers 05.16.24: PRA Runway, Wag-Aero Sold, Young Eagles

Also: Paramotor Champ's, Electric Ultralight, ICON BK Update, Burt Rutan at Oshkosh! The Popular Rotorcraft Association is reaching out for help in rebuilding their private runway >[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC