Dec 12 (Reuters) - Air-taxi maker Archer Aviation ( ACHR )

said on Thursday it has raised $430 million in fresh

capital, part of which will be used to develop a hybrid aircraft

with defense tech company Anduril Industries.

Existing investors United Airlines and Stellantis ( STLA )

as well as new backers such as Wellington Management

and Abu Dhabi investment holding company 2PointZero participated

in the fundraising, which was through an equity offering.

Anduril, which was founded by entrepreneur Palmer Luckey,

and Archer said the aircraft would target a potential "program

of record" - a government approved and authorized acquisition

program - from the Pentagon.

The companies did not disclose any details of the aircraft,

including its target entry-into-service date or the investment

involved.

"With Anduril by our side, and this new influx of capital,

we will accelerate the development and deployment of advanced

aerospace technologies at scale," said Archer Aviation ( ACHR ) CEO Adam

Goldstein.

Industry executives have said U.S. President-elect Donald

Trump's planned government efficiency drive involving Tesla CEO

Elon Musk could lead to more joint projects between big defense

contractors and smaller tech firms in areas such as artificial

intelligence, drones and uncrewed submarines.

The latest fundraising also comes when the electric vertical

takeoff and landing (eVTOL) industry faces a cash crunch as

technological and regulatory hurdles weigh on the sector, though

analysts have said Archer is among the best-positioned to

operate long enough to at least achieve certification.

Archer, which is also developing a five-seater commercial

eVTOL aircraft, said the new fundraising would eliminate any

near-term financing needs.

The company ended the third quarter with $502 million of

cash and cash equivalents. The latest funding brings Archer's

total capital raised to nearly $2 billion to date.