Beta, backed by Fidelity, files for $825 million IPO
Beta Technologies, a Vermont-based startup working on electric planes, is aiming to raise up to $825 million through its IPO, with shares priced between $27 and $33.
This could put Beta's value at around $7.2 billion.
Founded in 2017 by Kyle Clark, Beta stands out for choosing big institutional investors over the usual venture capital route.
Beta's approach to funding and partnerships
Beta filed for its IPO with the US SEC and managed to keep things on track even with talk of a government shutdown.
The company has already raised $1.15 billion from major backers like Fidelity and Qatar Investment Authority.
Beta also just partnered with GE Aerospace, who's putting in $300 million to help develop hybrid-electric tech for future aircraft—showing Beta's focus on smart partnerships to push electric aviation forward.