Beta Technologies Raises $1.02 Billion in IPO at a $7.4 Billion Valuation

Beta Technologies is an electric aerospace company developing a complete system for the future of aviation. The company is building the Alia A250, an electric vertical takeoff and landing aircraft, and the Alia CX300, an electric conventional takeoff and landing aircraft. These aircraft are designed to reshape cargo, medical, defense, and passenger transportation, supported by Beta's own multimodal electric charging infrastructure, which can power both its aircraft and ground-based electric vehicles.

Beta Technologies has raised $1.02 billion in an IPO, bringing the company's post-money valuation to $7.4 billion. The company sold 29.9 million shares, pricing them above the marketed range at $34 each. Prior to its public debut, Beta was backed by major investors including Fidelity, General Electric, TPG Rise Climate Fund, and Amazon's Climate Pledge Fund.

Beta Technologies, headquartered in South Burlington, Vermont, United States, was founded in 2017 by Kyle Clark. In 2021, the company joined the unicorn club. "We have the ability to forecast into a pipeline that's secure with deposit-based backing, and we have a major certification behind us," said Beta Technologies CEO and co-founder Kyle Clark. "Aircraft can be delivered to customers for certain applications, which would provide payment, before the full regulatory process is completed."