Skydio, a Redwood City, Calif.-based U.S. drone manufacturer, raised $170m in Series D funding.
The round, which brought total funding raised to over $340m with a current valuation of over $1 billion, was led by Andreessen Horowitz’s Growth Fund with participation from existing investors Linse Capital, Next47, and IVP, along with new investor UP.Partners.
The company intends to use the funds to further accelerate product development and global sales expansion.
Founded in 2014 and led by Adam Bry, CEO and Co-founder, Skydio is a U.S. drone manufacturer and world leader in autonomous flight. The company leverages AI to create intelligent flying machines for use by consumer, enterprise, and government customers. Skydio designs, assembles, and supports its products in the U.S. and has been selected as Trusted Drone Provider for U.S. Federal Government as part of the Defense Innovation Unit’s Blue sUAS Project.
Over the last year, Skydio has made progress in every market category from the continued adoption of Skydio 2 by consumers, to the largest ever enterprise drone deal with EagleView for residential roof inspection, to the downselection for final integration as part of the Army Short Range Reconnaissance Program. Enterprises and public sector organizations, including Jacobs Engineering, Sundt Construction, the US Civil Air Patrol, Ohio Department of Transportation, North Carolina Department of Transportation, Boston PD, and Sacramento Metro Fire Department, use its autonomous drones for infrastructure inspection, search and rescue, situational awareness, emergency response and many more use cases.
FinSMEs
01/03/2021