Electric Aircraft Company Beta Technologies Raises $368M in Funding Round Written 19 May 2021


ALIA eVTOL aircraft manufactured by BETA Technologies. | Credit: BETA Technlologies; Wikipedia; CC BY-SA 3.0

Reuters reports that electric aircraft company Beta Technologies “said on Tuesday it had raised $368 million in a private funding round which was led by Fidelity Management and backed by Amazon’s climate-focused venture capital fund.” Beta Technologies said that the funding will be used to refine its electric propulsion systems and controls and the construction of manufacturing facilities. UPS agreed last month to buy 10 electric vertical takeoff and landing aircraft from Beta Technologies to speed up deliveries in small markets. 
Full Story (Reuters)