News Summary

Beta Technologies, a Vermont-based electric aviation startup, is aiming to raise $825 million through an initial public offering (IPO). The company’s shares are priced between $27 and $33, potentially valuing the startup at $7.2 billion. Founded in 2017 by Kyle Clark, a Harvard-educated former hockey player and pilot instructor, Beta has distinguished itself by avoiding Silicon Valley’s venture capital and instead secured $1.15 billion from institutional investors like Fidelity and Qatar Investment Authority. Recently, Beta announced a strategic partnership with GE Aerospace to develop a hybrid-electric turbogenerator, with GE Aerospace investing $300 million and obtaining a stake in the company.