Archer teams up with Anduril and raises $430 million to build defense aircraft

Quick Summary:

The startup, which went public in September 2021 in a special purpose acquisition merger, formed an advisory body last year to support its growing relationship with the Department of Defense.

Anduril’s iconic, and at times controversial, founder Palmer Luckey – who previously founded Oculus VR and sold it to Meta for $2 billion – has ambitions to turn his company into the next great American defense contractor.

Funding to defense tech companies has boomed in 2024 as geopolitical tensions rise, advancements in AI abound, and investors seek out a new growth area amid a broader tech sector slowdown.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Rebecca Bellan

Category: Technology

Markets: United StatesGeorgiaUkraine

Topics: Anduril EVTOL Transportation Defense tech Archer Aviation

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-12 @ 14:00:00 (10 hours ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 839 words

Reading Time: 5 minutes read

Sentences: 34 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 24377613

View Article Analysis

About TechCrunch

Main Topics: Technology

Official Website: techcrunch.com

Update Frequency: 29 posts per day

Year Established: 2005

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #20

Publisher Details

Frequently Asked Questions