Eve Air Mobility raises $230M in Brazil
Eve Air Mobility announced a $230 million equity raise and a dual listing in Brazil via Brazilian Depositary Receipts (BDRs) approved for trading on B3 under the ticker EVEB31. The financing is structured as a registered direct offering of 47,422,680 new shares at $4,85 each. Investors include BNDESPAR (the Brazilian development bank’s investment arm), Embraer, and other institutions.
Eve—an Embraer-backed company—develops electric vertical takeoff and landing (eVTOL) aircraft and software for urban air mobility, including its Urban ATM “Vector” platform and a TechCare support offering.
The company said Cantor Fitzgerald, Raymond James, and Bradesco BBI are placement agents. Eve plans to use BDR proceeds to pay for services performed in Brazil and the remaining net proceeds for general corporate purposes, including operations, potential M&A/strategic investments, and debt repayment. Management framed the Brazil listing as a way to broaden the investor base.
Earlier, Joby Aviation, a leading developer of eVTOL air taxis, announced the acquisition of a New York-based urban air-mobility broker, Blade Air Mobility, to scale urban air mobility services. Also, Jeh Aerospace, an aerospace manufacturing startup, has raised $11 million to build large-scale "mega factories" in India and the US.
Cover photo by Markus Spiske on Unsplash
