Skydio, a California-based, leading US drone manufacturer, has raised $230 million three years after entering the corporate and public sector markets, the company said in a statement.
Existing investors Andreessen Horowitz, Next47, IVP, DoCoMo, NVIDIA, the Walton Family Foundation, and UP. Partners also participated in the round, which was led by Linse Capital.
Axon, a crucial Skydio technology partner and a leader in worldwide public safety technologies, and Hercules Capital were also welcomed as new investors by Skydio.
After a year in which its enterprise clientele topped 1,200 businesses, the company was granted finance.
Skydio has now raised $562 million in total capital, valued at over $2.2 billion following the $230 million Series E deal.
Now, the US Department of Defense, more than half of the US State Departments of Transportation, more than 200 public safety agencies in 47 states, and more than 60 energy utilities all deploy Skydio drones.
Businesses across more than a dozen industries use the drone the startup created. These clients automate complex inspection processes and receive situational awareness in critical circumstances.
China has dominated the consumer drone market, forcing US companies like GoPro and 3D Robotics to discontinue consumer sales and leave the market early.
But, the US government’s decision to put DJI, a Chinese drone manufacturer, on the commerce blacklist and forbid US businesses from providing it with parts has given the US-based drone producer new opportunities.
“Drones enable the core industries that our civilization runs on—transportation, public safety, energy, construction, communications, defense, and more—to operate more safely and more efficiently by putting sensors wherever they’re needed, whenever they’re needed while keeping people safe on the ground. The transition to autonomy delivers a step change in the accessibility and utility of drones by removing the need for an expert pilot,” said Adam Bry, co-founder and CEO of Skydio.
Skydio’s tech allows the airborne device to navigate obstacles autonomously
Skydio was established in 2014 and comprises specialists in AI, robotics, cameras, and electric vehicles from prestigious global businesses, research institutions, and universities.
The drone startup creates, puts together, and supports its goods to provide the best standards in production, supply chain, and data security.
Leading companies from various industry sectors rely on its technology, which reputable investors and business partners like Andreessen Horowitz, Linse Capital, Next47, IVP, Playground, and NVIDIA support.
The startup has solidified its place in the market by developing the most well-known self-flying technology in this industry, enabling the aerial device to traverse obstacles and follow people on the ground.
Recently, the business unveiled Regulatory Services, which are starting to break through the Beyond Visual Line of Sight (BVLOS) barrier by permitting customers to operate drones out of sight, including totally remote operations.
An industrial turning point is marked by the development of entirely autonomous operations’ regulatory framework and technological maturity.
“Drones bring substantial value in maintaining public safety, particularly in increasing visibility and providing a first line of communications for first responders,” said Henrik Kuhl, SVP of Strategy & Corporate Development at Axon.
Skydio uses cutting-edge AI to build the most intelligent flying aircraft in the world for use by individuals, businesses, and the government.