We control access rights across platforms securely and reliably. At the center is the ALIA-250, BETAs eVTOL aircraft. Funding Rounds Number of Funding Rounds 3 fordecision makersin the Electric aviation startup Beta Technologies closed a $368 million Series A funding round on Tuesday, with investments from Amazon's Climate Pledge Fund. "We're gratified for the confidence this diverse group of investors has placed in our team as we continue on our mission to transform how people and goods move about the world," said Kyle Clark, BETA's Founder and CEO. Further funding will be allocated to accelerate production and manufacturing of BETA's aircraft and the rollout of charging infrastructure, currently on track for a 2024 delivery. This company was founded by Kyle Clark in 2012 and is headquarters in South Burlington, VT. The Federal Aviation Administration must still certify the EVAs being manufactured by each company before they can start flying. Buying a Home in California Is Already Hard. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the 'unsubscribe' section below. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. BETA Technologies closes $368 million funding round led by Fidelity and The Climate Pledge fund has also made contributions toward electric vehicle manufacturer Rivian, battery recycler Redwood Materials and ZeroAvia, a hydrogen fuel cell aviation company. Odys Aviation operates as a sustainable aviation company. BETA Home - BETA It is a joint-venture of two companies, Beta Technologies, Lda., headquartered in Lisbon, and Beta Technologies US Inc., established in New York. Instead, its been targeting defense applications, cargo delivery and medical logistics, as well as building out its network of rapid-charging systems in the northeast U.S. Its debut aircraft, the ALIA-250c, was built to serve these various solutions by being capable of carrying six people or a pilot and 1,500 pounds. Email:info@beta.team . Bristow places firm order for five ALIA-250 aircraft with an option for an additional 50 aircraft. Our Learn more. Beta Technologies - Overview, News & Competitors | ZoomInfo.com Personalize which data points you want to see and create visualizations instantly. In March, BETA advanced to the next phase of flight testing, completing an interstate flight with ALIA from its Plattsburgh, NY home airport test facility to the company's headquarters on the grounds of Burlington International Airport in South Burlington, VT. Got a confidential news tip? Claim your profile to get in front of buyers, investors, and analysts. Fidelity Investments invested in Beta Technologies's Series B funding round. Facebook Twitter LinkedIn YouTube. Fidelity Management & Research Company is joined by Amazon's Climate Pledge Fund, aviation investor Redbird Capital, and other new and returning investors. These well-paid positions in construction, engineering, design, mechanical and manufacturing roles will continue to deliver on BETA's commitment to Vermont and its economy. In the world of medical transport, it's important that we create the most reliable and sustainable system for mobility in all weather conditions. Dr. Martine Rothblatt, CEO of United Therapeutics, which was BETA's first customer, which set the initial specification for the ALIA aircraft, said, "We're delighted to welcome new investors to BETA. "I'm incredibly confident that we can achieve certification of this vehicle [Alia 250]," Clark said. entering your email below. However, it still must achieve certification with the Federal Aviation Administration. The company has assembled a team of world-class research, engineering, and test organizations, as well as Federal Aviation Administration (FAA) Designated Engineering and Airworthiness Representatives to build the very best team to engage with the FAA and to ensure compliance with regulations. It values the electric vertical aircraft start-up at $1.4 billion. The Climate Pledge Fund is investing in visionary companies across industries, including transportation and logistics, energy generation, storage and utilization, manufacturing and materials, circular economy, and food and agriculture. *. SOUTH BURLINGTON, Vt ., May 18, 2021 /PRNewswire/ -- BETA Technologies ("BETA" or "the Company"), developer of a fully integrated electric aviation ecosystem, raised $368 million in a private. ALIA's fixed-pitch propellers and centrally located batteries make it an inherently stable aircraft that is safe to fly and easy to maneuver, putting it on a direct path to Part 23 FAA certification. Odys Aviation was formerly known as Craft Aerospace. Investor relations | Beta Systems Software AG The fund is a $2 billion investment program to support the development of sustainable and decarbonizing technologies and services that will enable Amazon and other companies to meet the goals set by The Climate Pledge. Beta Technologies has raised $743.68M over 5 rounds. Transfer Agent . Goldman Sachs & Co. LLC acted as exclusive placement agent for BETA in connection with this capital raise. BETA has initiated the installation of more than 65 charging locations which are online or in permitting, with a plan for hundreds more at strategic locations. What is Salesforce? Bristow will leverage its 70+ years of aviation expertise and bring a . newsletter is published every Written by "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," said Kara Hurst, vice president, and head of . The additional funds will allow BETA to continue building out technological capabilities to best support and serve its diverse customer needs across commercial, cargo, and defense applications. "The development of sustainable and decarbonizing technologies will help facilitate the transition to a low-carbon economy and protect the planet for future generations. These well-paid positions in construction, engineering, design, mechanical and manufacturing roles will continue to deliver on BETA's commitment to Vermont and its economy. Proceeds will be used by BETA to continue refinement of its electric propulsion systems and controls, as well as the construction of manufacturing facilities, while the Company advances toward Federal Aviation Administration (FAA) certification of ALIA. ", "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," said Kara Hurst, Vice President, and Head of Worldwide Sustainability at Amazon. Beta Technologies specialties include software development, system integration, power system design, algorithm development, thermal analysis, sensing and control systems. Every BETA employee is encouraged to become a licensed pilot and fly all of the company's diverse flying machines in order to gain firsthand invaluable insight into aircraft design and performance and operational considerations. Beta hopes to receive certification by 2024. In the same week ALIA flew its first interstate flight, the aircraft set a new BETA record for endurance, range, and altitude. Its June. , . To date, Amazon has invested in ZeroAvia, CarbonCure Technologies, Pachama, Redwood Materials, Rivian, Turntide Technologies, Infinium, and now BETA Technologies. Beta Technologies's latest funding round is Series B. As part of Amazons commitment to achieve the goals of the pledge, we launched The Climate Pledge Fund in 2020. Beta Technologies' electric Vertical Takeoff and Landing (eVTOL) aircraft to land on-property at UPS facilities in small and mid-size markets. Zero emissions aviation is a critical part of turning the corner on climate change, and we are thrilled that our investors see our electric aviation system as a meaningful step towards this ambitious goal, said Kyle Clark, BETAs Founder and CEO. This new funding will accelerate BETA's development. "Each of our current and future customers, whether they are moving people, medicine, or goods, need the same vital things from a certified commercial aircraft: safety, reliability, and sustainability," said Clark of BETA. Beta Technologies - Products, Competitors, Financials, Employees Beta Technologies has 7 investors. BETA Technologies' electric vertical aviation aircraft. developments in electric transport Specifically, the company, based in South Burlington in the US state of Vermont, wants to continue flight testing its Alia 250 eVTOL, further refine its electric propulsion systems and expand its charging infrastructure. Beta Technologies's deal structure is available for 1 funding round, including their Series B from April 19, 2022. The company designs and tests vertical take-off and landing aircraft that are designed to fly and land in and around cities. $743.68M Investors Count 7 Deal Terms 1 Funding, Valuation & Revenue 5 Fundings Beta Technologies's latest funding round was a Series B for $375M on April 19, 2022. ", "We support Beta Technologies' mission to reshape air transportation through zero-emission aviation." A relentlessly focused team is building an extensive charging infrastructure and ALIA, the world's most technologically advanced electric vertical aircraft (EVA). The electric aerospace company signed a lease this month at the former Energizer battery plant to begin research, development and battery validation operations at the facility. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. "There's sustainable solutions in buildings and obviously in ground-based vehicles, but aviation doesn't have a solution. United Parcel Service, Inc. plans to acquire electric vertical takeoff and landing aircraft from Beta Technologies as it looks to enhance its air delivery services . The ALIA, BETA's electric aircraft, can carry three cargo pallets or up to six people with zero operational emissions. Electric aviation startup Beta Technologies raises $375 million - Axios Forrester Study: RingCentral MVP + Contact Center Delivers an ROI of The company philosophy is to reduce risk in certifying its first commercial aircraft through simplification. Salesforce - Overview The Series A funding round was led by Fidelity Management & Research Company, and joined by Amazon's Climate Pledge Fund as well as new and returning investors. All rights reserved. In the same week ALIA flew its first interstate flight, the aircraft set a new BETA record for endurance, range, and altitude. In preparation for the ight, the USAF pilots underwent extensive safety and preparedness training for the ight tests, completing intensive aircraft academics on BETAs ALIA, attending thorough ground school sessions to learn every system of the aircraft from the BETA subject matter experts who built them, and undergoing simulator training to understand how to manage unplanned events. Contact The ALIA, BETA's electric aircraft, can carry three cargo pallets or up to six people with zero operational emissions. BETA's team comes from leading firms and organizations, including the Federal Aviation Administration, the armed services, Boeing, Tesla, SpaceX, Lockheed Martin and General Electric. Today's funding news follows recent announcements regarding several new partnerships. Beta Technologies specializes in the design and development of electric aircraft including advanced flight control and electric propulsion systems, with a focus on clean aviation technology. BETA Technologies closes $368 million funding round led by Fidelity and At Seagate Technology Public Limited Company, we promise to treat your data with respect and will not share your information with any third party. Built to anticipate and eliminate challenges in the investment lifecycle, Beta delivers a solution set that ensures our clients and the advisors and investors they serve never miss a growth opportunity. Why it matters: Beta aims to achieve FAA certification by 2024 and . Beta Technologies Stock Price, Funding, Valuation, Revenue & Financial Beta Technologies ' two prized prototypes take up the center of its bustling headquarters inside a hangar at Burlington International Airport. Amazon invests in BETA Technologies to accelerate zero-emission air BETA has committed orders and contracts with leading operators across military, medical, cargo and passenger. ", "BETA is focused on transforming aviation and finding a solution to help companies reach zero emissions within the next 20 years," said Kyle Clark, founder and CEO of BETA Technologies. The large wings, clean design, and simple propulsion system are based on first principle engineering. Win whats next. Read more. We monitor and protect the network and optimize the infrastructure management of corporate IT. Prioritization of safety and a pragmatic approach to certification drive elegant redundancy, appropriate diversity of implementation and simplicity of control. It's awesome to have the validation," Beta founder and CEO Kyle Clark told CNBC, speaking of breaking the so-called unicorn status of $1 billion. , . Beta Technologies: An eVTOL Developer That's All About Flying Designed initially for the transportation of medical products and cargo, ALIA will carry 1,400 pounds of payload, or be congured for up to ve people plus a pilot and requires less than an hour to charge after full missions. This is a profile preview from the PitchBook Platform. Seagate - Financials - SEC Filings Help Desk Software; Marketing Automation Software; Explore All Products; What is Cloud Computing? Beta Plus Technologies, Inc. Company Profile | New York, NY Outgoing Qantas Boss Joyce Loved by Investors, Not Passengers In March, Joby Aviation announced that it's going public in a special purpose acquisition company deal at a $6.6 billion valuation. This new funding will accelerate BETA's development. The Company designs and manufactures electric aircrafts and recharging pad systems. Every BETA team member is given the opportunity to become ight-certied at no cost, enabling rsthand understanding of aircraft engineering. Electra develops and manufactures hybrid-electric aircraft for urban and regional mobility. Amazon And UPS Are Betting This Electric Aircraft Startup Will - Forbes Log in. In the world of medical transport, it's important that we create the most reliable and sustainable system for mobility in all weather conditions. The large wings, clean design, and simple propulsion system are based on first principle engineering. Beta becomes latest EVA unicorn with Amazon, Fidelity backing - CNBC Get the latest business insights from Dun & Bradstreet. BETA Technologies Company Profile: Valuation & Investors - PitchBook Flight Path: BTV's Beta Technologies Is on the Cusp of a Breakthrough Investors are bullish on stocks through 2024. June 1st, 2023, 5:06 PM PDT. Beta Technologies has secured $368 million through a Series A private funding round led by Fidelity Management & Research Company, which will support the continued development of its ALIA eVTOL aircraft and construction of new manufacturing facilities. Please take a look at our German Investor Relations section. BETA partnerships span multiple industries, including air medical delivery, cargo logistics, government, and passenger travel, and include United Therapeutics, UPS, U.S. Air Force, and Blade. The funding round was led by Fidelity Management & Research Company, with undisclosed additions from Amazons Climate Pledge Fund, a $2 billion fund established in September 2019 to advance the development of sustainable technologies. Beta Technologies Inc - Company Profile and News - Bloomberg Markets Software Updates Manage Products and Account Information Americas +1 212 318 2000 Asia Pacific +65 6212 1000 Company. A relentlessly focused team is building an extensive charging infrastructure and ALIA, the world's most technologically advanced electric vertical aircraft (EVA). While the company has not yet released a commercial product, its fixed-wing aircraft prototypes have completed successful test flights. Africa is quickly becoming one of the business world's most supercharged areas, with a burgeoning startup scene, expansive infrastructure projects, and capital pouring in from across the world. Beta Technologies is a Second Life Solution Provider, creating content and developing applications for the virtual world of Second Life (or its equivalent open-source version, OpenSimulator ). 2023 BETA Technologies. Around the upper rim of the airy space, employee. Beta intends to use the funds to further develop its electric aerial system. Amazon Climate Pledge Fund recipient BETA Technologies is reshaping air transportation with its fully-electric, zero-emission aircraft. CBI websites generally use certain cookies to enable better interactions with. The network extends from Burlington, VT to Melbourne, FL and Bentonville, AR-with plans to continue expansion across the U.S. BETAs charging network includes on- and off-airport stations, with new capabilities and providing a true end-to-end solution for customers' full eet of ground and air vehicles. BETA's platform and products are strikingly simple. The funds will be used to refine the ALIAs electric propulsion system and controls, as well as to build out manufacturing space, including expanding its footprint in Vermont on land at the Burlington International Airport, the company said in a news release Tuesday. UPS Flight Forward adds innovative new aircraft, enhancing capabilities and network sustainability. every workday since 2013. Amazon launches a $2 billion Climate Pledge Fund. 1150 Airport Drive South Burlington Vermont 05403. Beta Technologies raised a total of $743.68M. Prioritization of safety and a pragmatic approach to certication drive elegant redundancy, appropriate diversity of implementation and simplicity of control. electrive.com is a newsservice Further funding will be allocated to accelerate production and manufacturing of BETA's aircraft and the rollout of charging infrastructure, currently on track for a 2024 delivery. Sign up for free newsletters and get more CNBC delivered to your inbox. While Qatar has reportedly spent $200 billion or more, most nations are now unwilling to spend a fraction of that on money-losing mega-events like the World Cup or the Olympics. HopFly develops an electric vertical takeoff and landing aircraft that transports urban commuters. UPS Flight Forward Adds New Aircraft | About UPS Analyst Briefing Submitters are 7x more likely to receive a qualified connection.