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Archer Aviation Inc said it raised $215 million in funding and patched up a legal dispute with Boeing Co, paving the way for the electric air-taxi startup to collaborate with its former adversary on future designs.
Archer received investments from Boeing, as well as existing backers Stellantis NV, United Airlines Holdings Inc and tech-focused Ark Invest, it said in a statement. The California startup will work with Boeing and its Wisk Aero LLC flying-taxi venture on autonomous flight technology, it said.
Boeing said it looked forward to possible collaboration between Archer and Wisk in the aftermath of the settlement. “Our investment in Archer will support the potential integration of Wisk’s autonomous technology in future variants of Archer’s aircraft, pursuant to Wisk’s exclusive right to be their autonomy provider,” a spokesperson said in an emailed statement.
Collaborating with Wisk will give Archer a powerful supplier for autonomous technology, even as it works to win approvals for its initial model requiring a human pilot. Archer is targeting 2025 for an entry into service of its Midnight electric vertical take-off and landing aircraft, or eVTOL, a five-seat craft with tilting propellers.