FutureFlight
Beta Secures $375 Million To Support Development of Alia 250 eVTOL Aircraft and Charging Network
Venture capital groups TPG Rise Climate and Fidelity Management & Research Company lead the latest investment in Beta Technologies.
Beta Alia-250
Beta Technologies expects its Alia-250 eVTOL aircraft to win FAA certification in 2024. (Photo: Beta Technologies)

Beta Technologies has raised a further $375 million to support the development of its Alia 250 eVTOL aircraft and charging infrastructure in a round of private financing led by TPG Rise Climate, the dedicated climate investing strategy of TPG’s global impact investing platform TPG Rise, and Fidelity Management & Research Company. The Vermont-based start-up called the funding round announced on April 20 as, “meaningfully oversubscribed.”

Fidelity also backed an earlier funding round that raised $368 million in May 2021. That round was also supported by Amazon's Climate Pledge Fund, and Beta has now raised a total of $796 million.