Archer押注FAA的Powered-lift规则将打开空中出租车大门：首家通过第三阶段认证，手握18亿美元

做的是什么生意

Archer builds the Midnight, a piloted four-passenger electric vertical take-off and landing (eVTOL) air taxi for ~60-mile urban hops, and plans to operate air taxi networks itself in the US, UAE and elsewhere.

启动资金：Over $1.1B: ~$60M seed/Series A before 2021; SPAC gross proceeds of $1.1B including a $600M PIPE (United, Stellantis, Mubadala and others) in Feb 2021; a $215M round in 2023 (Stellantis, Boeing, United, ARK); ~$230M more in 2024; ~$1.8B in liquidity as of March 31, 2026.

起因

Adam Goldstein and Brett Adcock, who had sold Vettery to Adecco for $100M+, co-founded Archer in 2018 with backing from Jet.com founder Marc Lore, and came out of stealth in 2020. In February 2021 it announced a SPAC merger with Atlas Crest at a $3.8B equity valuation, $1.1B of gross proceeds, and a $1B aircraft order from United Airlines — an explicit bet that the regulatory and market path for eVTOL air taxis would open within a few years.

经过

Archer raised a $215M round in 2023 from Stellantis, Boeing, United and ARK and received an FAA Special Airworthiness Certificate to begin flying Midnight. The regulatory door swung open on October 22, 2024, when the FAA issued its final powered-lift rule — the first new civil-aircraft category since helicopters — covering pilot training, certification and operations for air taxis and cargo. Archer added ~$230M in capital during 2024, took over Hawthorne Airport near LAX in 2026, and in April 2026 became the first eVTOL company to close Phase 3 of the FAA's 4-phase type-certification process for Midnight, with Phase 4 (compliance testing) underway and ~$1.8B in liquidity. It was selected as Official Air Taxi Provider of the LA28 Olympic Games and into the White House's eIPP corridor program (8 states), while pursuing a dual-use defense aircraft with Anduril. Q1 2026 revenue was $1.6M and net loss $217.7M, with first paid US flights targeted for 2026.

可借鉴之处

监管绿灯是一张时间表，而非保证：每个FAA里程碑都花费数亿美元，因此这项赌注只有在首次付费飞行后才能真正兑现。