Vertical Aerospace has raised $90 million in a public offering, surpassing its original $75 million target. The funding includes over $60 million from new investors and $25 million from Mudrick Capital. The investment deal also converted $130 million of debt into equity, strengthening the company’s financial position.

The proceeds will fund research, development and certification work for the VX4 eVTOL aircraft, with a focus on accelerating spending in the second half of 2025. Vertical aims to achieve VX4 certification by 2028, with 2025 milestones including piloted flight tests, additional CAA approvals and the start of certification aircraft production.

Stuart Simpson, Vertical's CEO, says: “This funding, which exceeds our initial launch target, represents a major milestone for our business as we advance our Flightpath 2030 strategy, building on significant operational momentum. While the real work lies ahead, I've never been so confident that we have the team, technology and vision to drive our mission to pioneer electric aviation.”

Chairman Dómhnal Slattery adds: “Securing access to capital is critical to our success, and I want to extend my gratitude to Jason Mudrick for his pivotal initial investment, which set the stage for this funding round.”

The funding follows Vertical’s recent successful VX4 flight test, where the company became the second in the world to achieve piloted thrustborne flight manoeuvres with a full-scale vectored thrust eVTOL.