Vertical reaches tentative $100m financing deal to support Valo certification and production effort

Vertical Aerospace has secured a preliminary agreement for approximately $100 million in additional funding, intended to bolster the development of its Valo electric vertical takeoff and landing (eVTOL) aircraft. Mudrick Capital, Vertical’s primary investor, is slated to contribute $40 million as part of this investment round. The funds will primarily be used to facilitate the critical design review currently underway for the Valo program. This financing comes amidst developments by rival eVTOL manufacturer Archer Aviation, which recently announced consolidation with Boeing. Investors are preparing to support Vertical's certification and production efforts related to the Valo vehicle.