BETA Technologies Raises $368 Million to Create Fully Integrated Electric Aviation Ecosystem

By Thomas Price Tuesday, May 18, 2021

As technology continues to push the limits of environmental sustainability, one of the largest areas of business for innovation is transportation. For large cargo ships or airplanes, virtually the entire global fleet is still reliant entirely on fossil fuels. Tech startup BETA Technologies is looking to change that with its fully electric vertical takeoff and landing (eVTOL) platform. The company recently closed a private Series A funding round that saw significant interest as BETA Technologies continues to make major strides in creating a more environmentally sustainable logistics business.

BETA Technologies aircraft.

What BETA Technologies Does and Its Major Client Base

Tech startup BETA Technologies has created a business-ready product for the logistics industry with development of its eVTOL aircraft, the ALIA-250c. What sets the company apart from many others is how effective and relatively powerful the eVTOL aircraft is. In fact, the ALIA-250c can carry up to 1,500 pounds of cargo as well as a pilot for 250 nautical miles.

For personal or consumer use, the eVTOL aircraft developed by the business would be able to take on six total passengers. With a recharge time of just 50 minutes, a company using the electric aircraft would be able to transport cargo over short distances with incredible ease and turnaround time.

Equally as important, using the BETA Technologies product would result in absolutely no operational emissions, which would cut the overall environmental impact of any company that uses the eVTOL aircraft.

Many logistics business giants have been trying to find an early connection with the tech startup, since it has created such an effective, sustainable product. In fact, BETA Technologies has already entered a partnership with logistics company UPS, which reserved the right to order 150 electric aircraft and charging stations. The company would use these eVTOL aircraft to serve as a small and mid-sized market solution, with possibilities to scale up usage depending on the advancement of technology from the startup.

BETA Technologies Funding and Future Plans

In the Series A funding round for the tech startup, BETA Technologies raised a whopping $368 million. The funding round was led by Fidelity Management & Research Company with notable participation from Amazon’s Climate Pledge Fund. Commerce and tech giant Amazon sees the future development of the company as a key way to reduce emissions in cargo transportation, an area of business that is both vital and still entirely reliant on fossil fuels.

The tech startup will use this funding to advance the integrated system for electric vertical aviation and bolster production and manufacturing capabilities. Additionally, the new capital will make it easier for Beta Technologies to earn certification from the Federal Aviation Administration (FAA), clearing the path for wide-scale commercial use of the ALIA-250c eVTOL aircraft.

When commenting on the recent funding round and environmental impact of the tech startup, vice president and Head of Worldwide Sustainability at Amazon, Kara Hurst said, “We support BETA Technologies' mission to reshape air transportation through zero-emission aviation and are proud to invest in them through Amazon's $2 billion Climate Pledge Fund. The development of sustainable and decarbonizing technologies will help facilitate the transition to a low-carbon economy and protect the planet for future generations.”

About the Author

Headshot of Thomas Price

Tom Price is a writer focusing on entertainment and sports features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.

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