Writer

Charlotte Bailey

Vertical Aerospace has raised a further $50 million in equity capital and announced on March 30 that it expects to receive a further $30 million in the coming weeks. According to the UK eVTOL aircraft developer, it now has $160 million of available capital&nbsp;to achieve key certification milestones over the course of this year, and can potentially tap further funds of up to $800 million.
The $160 million budget for 2026 will pay for tasks such as ongoing flight test activity, and producing the first example the new Valo design Vertical&nbsp;<a href="https://www.ainonline.com/aviation-news/futureflight/2025-12-09/vertical-unveils-redesigned-valo-evtol-aircraft-london">unveiled in December</a>. The Bristol-based company aims to complete type certification of the four- to six-passenger model by the end of 2028.
The new funding has boosted Vertical at a time when it was starting to run low on working capital, which had&nbsp;fallen to around $58 million as of March 24. Along with other leading publicly-listed eVTOL aircraft developers, it has seen its share price decline over the past six months with a 61% dip over that period—compared to, respectively, 48% and 50% for Archer and Joby.
<h2>Future Funding </h2>
Vertical reported that an additional “comprehensive financing package” worth up to $800 million has also been agreed in principle from several sources. Firstly, existing investor Mudrick Capital will extend the maturity of its convertible notes from December 2028 to December 2030, by which point the company expects to have started aircraft deliveries. Mudrick will also purchase an additional $50 million of new notes.
The U.S. venture capital group has backed Vertical since 2021, with chief investment officer Jason Mudrick stating his belief that the eVTOL company is “building the most technically advanced aircraft in the industry.” He intends for the new support to “give Vertical ample runway and the financial foundation it needs to achieve certification [and] enter commercial service.” 
Two deals have also been negotiated with New Jersey-based Yorkville Advisors Global. Yorkville has agreed in principle to purchase up to $250 million in shares, while an additional $500 million line of credit will be available to draw on over 36 months. “This structure would enable Vertical to raise common equity at progressively higher prices as it achieves key milestones,” explained Vertical in a press release.

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