Investors Back eVTOL Developer Vertical with $84 Million in Fresh Capital | Aviation International News

Finance, Taxes, Insurance

Investors Back eVTOL Developer Vertical with $84 Million in New Capital

Funding round that closed on January 24 includes two-tier warrants plus new stock

Vertical Aerospace's VX4 eVTOL aircraft prototype — Vertical Aerospace has already achieved piloted thrustborne maneuvers with its VX4 eVTOL aircraft prototype.

By Charles Alcock • Managing Editor

January 27, 2025

Vertical Aerospace has closed its latest round of fundraising, generating more than the $75 million target set when shareholders approved a new public offering backed by its main creditor, Mudrick Capital. Late on January 24, the UK eVTOL aircraft developer announced that the round raised $90 million, before deducting underwriting costs and other expenses of around $6 million.

In addition to $25 million from Mudrick Capital, the new capital includes more than $60 million from new investors. On November 25, Mudrick agreed to make the upfront payment of $25 million and also provide a $25 million backstop to cover any shortfall in funding. The refinancing package involved converting $130 million of debt into equity.

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