Joby Aviation, a pioneer in electric vertical takeoff and landing (eVTOL) technology, has announced a public offering to raise up to $200 million in funding. The startup plans to utilize the proceeds to drive its certification and manufacturing efforts, prepare for commercial launch in 2025, and support general working capital.

This move comes on the heels of a $500 million investment from existing investor Toyota earlier this month, bringing Joby's total funding to $2.6 billion. The company is poised to revolutionize urban transportation with its air taxi service, set to launch in New York City, Los Angeles, Dubai, and Abu Dhabi in partnership with Delta Air Lines and Uber.

Before taking to the skies, Joby must complete its type certification process to ensure the safety and airworthiness of its aircraft design. The Federal Aviation Administration (FAA) recently cleared the way for eVTOLs to share U.S. airspace with helicopters and airplanes, paving the way for Joby's commercial launch.

Joby's IPO is a significant milestone in the eVTOL industry, demonstrating the growing confidence in electric aviation technology. As the startup gears up for commercial operations, its success will have far-reaching implications for the future of transportation and urban mobility.Startups

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