🔵 Joby launches $300M public offering ahead of 2025 commercial eVTOL release Joby Aviation, a startup focused on electric vertical takeoff and landing vehicles, has initiated a public offering to sell up to $300 million in common stock, following a previous $222 million raise in October. This could bring Joby's total funding to $522 million as it prepares for a commercial launch in 2025. The funds will support certification, manufacturing, and general working capital as Joby aims to introduce air taxis in major cities like New York, Los Angeles, Dubai, and Abu Dhabi, in partnership with Delta Air Lines and Uber. The company also holds a $131 million contract with the Department of Defense. Before launching, Joby must complete a type certification process to ensure its aircraft meet safety standards. This public offering coincides with the Federal Aviation Administration's recent approval for eVTOLs to operate alongside traditional aircraft, as well as a $500 million investment from existing investor Toyota. To date, Joby has raised a total of $2.6 billion. 💬 Source 📌 Powered by V3V Ventures