Beta Technologies was founded in 2017 by Kyle Clark. While their most recent funding round was in 2022, in 2023 VermontBiz reported that BETA Technologies is opening an electric aircraft production facility. The founder Kyle Clark commented to VermontBiz and said, “The team here at BETA is excited to enter the next phase of our growing electric aerospace business,” in response to the company’s growth in recent years. Beta Technologies has not officially endorsed a plan to participate in an IPO.
Beta Technologies is a Vermont-based electronic aircraft manufacturer. Per Forge data, Beta Technologies has raised a total of $886 million in funding over 3 rounds, with the most recent funding on Apr 20, 2022, from a Series B round. Key investors include Fidelity Management and Research Company, and TPG Rise Climate Fund.
These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Funding Date | Share Class | Amount Raised | Price per Share | Post-Money Valuation | Key Investors | |
---|---|---|---|---|---|---|
10/31/2024 | Series C | $318.44MM | $xx.xx | $3.78B | Fidelity, Qatar Investment Authority, Tpg Rise Climate Fund, United Therapeutics | |
Price per Share
$xx.xx
Shares Outstanding
2,781,842
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Fidelity, Qatar Investment Authority, Tpg Rise Climate Fund, United Therapeutics
|
||||||
04/20/2022 | Series B | $375MM | $xx.xx | $2.56B | Fidelity, Tpg Rise Climate Fund | |
Price per Share
$xx.xx
Shares Outstanding
3,634,778
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Fidelity, Tpg Rise Climate Fund
|
||||||
05/18/2021 | Series A-1 | $5.61MM | $xx.xx | $1.4B | Climate Pledge Fund, Fidelity, Redbird Capital Partners | |
Price per Share
$xx.xx
Shares Outstanding
480,307
Liquidation Pref Order
3
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Climate Pledge Fund, Fidelity, Redbird Capital Partners
|
||||||
05/18/2021 | Series A-2 | $22.23MM | $xx.xx | $1.4B | Climate Pledge Fund, Fidelity, Redbird Capital Partners | |
Price per Share
$xx.xx
Shares Outstanding
1,584,493
Liquidation Pref Order
3
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Climate Pledge Fund, Fidelity, Redbird Capital Partners
|
||||||
05/18/2021 | Series A-3 | $29.89MM | $xx.xx | $1.4B | Climate Pledge Fund, Fidelity, Redbird Capital Partners | |
Price per Share
$xx.xx
Shares Outstanding
1,703,958
Liquidation Pref Order
3
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Climate Pledge Fund, Fidelity, Redbird Capital Partners
|
||||||
05/18/2021 | Series A | $367.89MM | $xx.xx | $1.4B | Climate Pledge Fund, Fidelity, Redbird Capital Partners | |
Price per Share
$xx.xx
Shares Outstanding
5,020,952
Liquidation Pref Order
3
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Climate Pledge Fund, Fidelity, Redbird Capital Partners
|