The Vermont-based electric aviation startup Beta Technologies has just closed a Series A round of funding that brought in $368 million. The funding round was led by Fidelity Management & Research Company, and includes an investment from the high profile Amazon Climate Fund. What portion of the investment came from the Amazon fund is as yet unknown. The Amazon fund is a $2 billion pledge fund set to invest in sustainable technologies, and it has already made investments into companies such as battery and e-waste recycling company Redwood and electric vehicle company Rivian.

Beta Technologies Series A fund is the second round of funding the company has brought in during 2021. Earlier this year, it raised $143 million in private capital. The new round of funding sees the company reach a valuation of $1.4 billion, which gives it unicorn status. Beta now joins companies like Joby Aviation in the exclusive electric aviation billionaires club.

What is interesting about Beta Technologies in comparison to other eVTOL companies is that it is not totally focused on air taxis, […]