Palo Alto aerospace startup Archer has launched an eVTOL aircraft designed for urban spaces. The company was founded in 2020 to build electric urban aircraft, and is supported by Walmart eCommerce chief executive Marc Lore.

Archer is designing a fully electric aircraft that can take off and land vertically, and carry four passengers. The aircraft has a range of up to 60 miles, and can travel at speeds of up to 150mph. It uses today’s battery technologies, and aims to be a faster, more sustainable option for urban travel. The design aims at increased safety and minimal noise compared to helicopters.

The company is led by co-founders Brett Adcock and Adam Goldstein.  They recently sold marketplace startup Vettery to The Adecco Group for over $100M. Marc Lore is providing the company both with funding and business advice.

Lore recently sold challenger e-commerce brand Jet.com to Walmart for $3.3 billion. Before starting Jet.com, he sold Quidsi to Amazon for $550 million in 2010.

Initially, Archer will focus on markets with heavy traffic congestion. In the long term, Archer aims to develop an air taxi network.

eVTOL experts Tom Muniz and Geoff Bower are leading the firm’s engineering. The company has over 40 engineers, and has recruited from competing eVTOL startups Joby, Airbus Vahana, and Wisk. Muniz, previously the VP of Engineering at Wisk, is Archer’s VP of Engineering. Bower will serve as Chief Engineer, a title he held at Airbus Vahana.

“As we look towards the future of transportation, it’s essential to invest in solutions that work to reduce traffic congestion and environmental impact while providing consumers with the swiftest, safest alternatives,” said Lore. “I am a firm believer in Archer and the role it will play in ushering in the next age of urban travel.”

“Archer aims to lead the new third dimension of sustainable travel in urban environments,” said Archer co-founder Brett Adcock. “Our sights are set on the sky and to get there, we’re focused on hiring the top engineering talent to design, manufacture, and operate a fully electric VTOL aircraft to bring in the new age of transportation.”

“By combining the brightest minds in eVTOL and a zest for solving the world’s biggest problems, Archer is poised to accelerate urban air mobility,” said Archer co-founder Adam Goldstein. “Focused on speed, safety, range, and payload, with the ability to be mass manufactured and properly certified, Archer’s aircraft will be an industry change marker.”