Simpson, who joined Vertical Aerospace in 2023, moves into the CEO role from Avast, where he served as Group CFO and played a pivotal role in the company’s $9 billion merger with NortonLifeLock in 2021. His previous experience includes senior positions at Royal Mail Group, General Motors, Rolls Royce, and Bentley Motor Car Company.

This funding, provided through the Aerospace Technology Institute (ATI) Programme, is earmarked for the development of next-generation propellers for its VX4 aircraft.

This investment is a strategic move to support Vertical's ongoing development and is expected to extend the company's cash runway into the second quarter of 2025.