Archer Aviation has raised a $215 million funding round led by automaker Stellantis.

The round also includes investments from United Airlines and ARK Investment Management, as well as Boeing, which will take a stake in the electric-vertical-takeoff-and-landing (eVTOL) aircraft company as part of a settlement of an intellectual property theft lawsuit filed by Boeing subsidiary Wisk Aero.

As part of the settlement, announced on Aug. 10, the same day the funding was announced, Archer will also make Wisk its exclusive supplier of autonomy technology. Boeing will invest a small, undisclosed amount in Archer that will be earmarked to support the integration of Wisk’s autonomy technology in future variants of Archer’s aircraft.

Stellantis led the latest funding round with a $70 million investment, accelerated from a $150 million strategic funding agreement the two companies announced in January, of which $55 million currently remains to be invested, Archer said. Strategic partner and launch customer United Airlines invested $25 million, with a further $44 million from Ark Invest, according to Archer. Boeing also invested in the funding round, in addition to multiple other parties, although Archer did not disclose the amounts.

Funds will be used to continue eVTOL aircraft development and flight testing, as well as the construction of a production facility in Georgia. Archer says it has raised more than $1.1 billion in total.

Archer also announced on Aug. 10 that its Midnight aircraft received its Special Airworthiness Certificate from the FAA.

“This is an important step as Archer readies to begin its piloted for credit testing of its Midnight aircraft with the FAA in early 2024 and bring online the world’s first high-volume eVTOL production facility in Covington, Georgia, in mid-2024 alongside Stellantis,” the company says.

The Midnight vehicle is still on track for entry-into-service in 2025, Archer says. The startup says it plans to start flight testing an unpiloted, nonconforming version of Midnight before the end of this summer. A conforming, piloted Midnight vehicle is being built and anticipated to be complete in the fourth quarter of this year, with piloted flight testing to begin in early 2024.

Archer also announced plans to accelerate delivery of its first nonconforming Midnight to Edwards AFB in California, part of a recently announced $142 million contract award from the Defense Department. The company said it now plans to deliver the first of six aircraft to the U.S. Air Force within six months, and possibly as soon as the fourth quarter. 

In terms of certification progress, Archer reported that the FAA has begun accepting the company’s certification plans, the third stage of the five-stage type certification process in which companies specify how they plan to demonstrate compliance with the criteria set out in their certification basis. At the same time, Archer is working with the FAA to finalize its means of compliance documents ahead of for-credit flight testing early next year.

All told, the latest funding round brings the aggregate total amount raised to $1.1 billion and leaves Archer with total liquidity of $675 million, including the remaining $55 million under the facility with Stellantis. That total compares to around $1.2 billion in liquidity for rival Joby Aviation, which like Archer plans to launch service in 2025.

Archer realized a net loss of $184 million in the second quarter, driven by spending on its aircraft development, engineering and certification activities. Core operating expenses in the first half of the year totaled $127 million, with $28 million of additional nonrecurring investments. The company says its core spending level–roughly $62 million in the first quarter and $66 million in the second quarter–will “persist into the future.”

Archer was tied for third place with Beta Technologies and EHang in the latest AAM Reality Index, published by SMG Consulting in June, with a score of 8.1 out of 10, behind Joby and Volocopter.