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- QIA leads the equity financing with significant participation from longtime BETA investors including Fidelity Management & Research Company, TPG's Rise Climate Fund, and others

 - Funds to be used to support BETA's continued momentum certifying, producing and deploying all-electric aircraft and infrastructure, serving both commercial and military customers across cargo, logistics, medical, and passenger applications

 - This investment aligns with QIA's efforts to support companies that are advancing the development of new technologies and driving forward the green transition​

South Burlington (October 31, 2024) —  BETA Technologies, Inc., an electric aerospace company based in Vermont, has raised $318 million in Series C equity capital. QIA led the raise and several of BETA's largest investors, including Fidelity Management & Rese arch Company and TPG Rise Climate Fund increased their ownership in BETA. Longtime customer United Therapeutics has also joined this round as an investor. The financing round was priced at an increased valuation relative to prior equity capital raises and was meaningfully oversubscribed. To date, BETA has raised more than $1 billion in equity capital.

Over the past eight years, BETA has developed sustainable products that lower the cost of transporting goods and people safely and reliably. BETA's all-electric aircraft, which are optimized for payload and range, sit at the center of its vision to make air transportation more reliable, greener, and cheaper.

This new funding will support the continued production, certification, and commercialization of those solutions, which include BETA's all-electric fixed-wing and eVTOL aircraft ALIA, advanced high performance electric propulsion systems, as well as its multimodal charging systems and growing infrastructure network.

“This investment validates progress and milestones toward commercializing electric aviation," said Kyle Clark, BETA's Founder and CEO. “For years, we've flown across the country and deployed with partners to prove the safety and reliability of our aircraft and chargers. Now, we're beginning to produce products for our customers. This continued belief and trust in this team and our vision will be good for the investors and good for the world. We are grateful for their shared vision."

“At QIA, we seek out companies that are well-positioned to become category leaders by addressing critical challenges with innovative solutions," said Mohammed Al-Sowaidi, Chief Investment Officer for Americas at QIA. "BETA is a leader in the electric aviation market and our participation in this funding round is fully aligned with QIA's efforts to invest in the companies that are making the energy transition a reality."

About BETA Technologies:

BETA Technologies is an electric aviation company based in Burlington, Vermont. Founded in 2017, BETA is working to change the paradigm of how we transport goods and people by making aviation cleaner, safer, and more cost-effective. To do this, the company is producing all-electric aircraft; multimodal, interoperable charging infrastructure; and training programs for next-generation pilots and maintainers. The BETA team has designed and is pursuing certification of two electric aircraft, including an electric fixed-wing and an electric vertical takeoff and landing (eVTOL) aircraft. The company has also brought more than 20 chargers online across the East and Gulf coasts, with over 50 more in development.​