Joby Aviation Seeks $300 Million in New Public Offering Before 2025 Air Taxi Launch
Joby Aviation launches a $300 million public stock offering to fund its final certification and manufacturing steps ahead of a planned 2025 commercial launch.
Joby Aviation launches a public offering to sell up to $300 million of its common stock as it prepares for its 2025 commercial launch. This new offering follows a recent $500 million investment from Toyota and adds to the $222 million the company raised in October, bringing its potential total funding haul to $522 million. Joby plans to use these proceeds alongside its existing cash to finalize its type certification and scale up manufacturing efforts.
The Federal Aviation Administration clears the way for eVTOLs to share U.S. airspace with traditional helicopters and airplanes this week, establishing crucial guidelines for pilot training and operating rules. Before Joby begins passenger flights, it must still complete this rigorous type certification process to prove its aircraft meets all required safety and airworthiness standards. A spokesperson for Joby declines to comment on the ongoing public offering.
Once certified, Joby aims to deploy its air taxis in major urban markets including New York City and Los Angeles through partnerships with Delta Air Lines and Uber. The startup also expands its global footprint with planned operations in Dubai and Abu Dhabi, while maintaining a $131 million contract with the Department of Defense. To date, Joby raises a total of $2.6 billion to make electric air taxi transportation a reality.