Start-up Archer Aviation will now have access to about $1 billion to work on an electric vertical-take-off-and-landing vehicle.

The company's share price ended the daily session up 13.1% amid the backdrop of a 0.7% gain for the S&P 500 (SNPINDEX: ^GSPC) and a 1% gain for the Nasdaq Composite (NASDAQINDEX: ^IXIC). In addition to the bullish backdrop for the broader market,

Air-taxi maker Archer Aviation said on Tuesday it has raised $300 million in a funding round that consisted of institutional investors including accounts managed by BlackRock .

Escalating geopolitical tensions and a new administration with a hawkish defense agenda have led many startups to embrace dual-use strategies to secure

Archer announced that it raised $301.75 million to develop its hybrid aircraft platform for the defense market and beyond. The funds bring Archer’s total liquidity position to approximately $1 billion.

Electric vertical takeoff and landing aircraft company Archer Aviation Inc. announced today that it has raised $300 million in new funding via an equity capital raise. The $300 million in funding, raised through a securities purchase agreement,