US drone manufacturer Skydio funding soars by $230 million for a total of over $562 million.
From the Skydio funding announcement:
The $230 million Series E round brings Skydio’s total funding raised to $562 million with a current valuation of over $2.2 billion. Linse Capital led the round, joined by existing investors Andreessen Horowitz, Next47, IVP, DoCoMo, NVIDIA, the Walton Family Foundation and UP.Partners. Skydio also welcomed new investors Hercules Capital and Axon, a technology leader in global public safety and a key Skydio technology partner.
Skydio has grown by 30x since it entered the market 3 years ago, based upon its US manufacturing and a ground breaking autonomy platform. As demand in both civil and military markets increase, Skydio unveils a new 36,000 square feet manufacturing facility and expects to add 150 manufacturing jobs to the Hayward, CA site and other US locations.
Skydio drones are now used by every branch of the US Department of Defense, by over half of all US State Departments of Transportation, by over 200 public safety agencies in 47 states and across more than 60 energy utilities. Additionally, Skydio is used by enterprises in over a dozen other industries. These customers are automating complex inspection tasks and getting situational awareness in life and death situations. On the strength of its autonomous technology, Skydio is now the largest drone manufacturer in the United States.
“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 safely 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. “We are still in the early innings of the industry, but we are seeing extraordinary demand globally from organizations addressing needs important to every citizen.”
“Skydio drones are being used to save lives and aid in the maintenance of critical infrastructure in ways that sounded like science fiction just a few years ago,” offered Bastiaan Janmat, Managing Director, Linse Capital. “We couldn’t be more excited to continue our partnership with Skydio as they solidify their position as the world’s most innovative drone technology company.”
“Drones bring substantial value in maintaining public safety, in particular in terms of increasing visibility and providing a first line of communications for first responders. Skydio fills a critical need in making that value more readily accessible to key stakeholders such as law enforcement thanks to the power of autonomy,” said Henrik Kuhl, SVP, Strategy & Corporate Development at Axon. “We are excited to continue our go-to-market and technology partnership with Skydio as we work together to deepen adoption of this technology in public safety.”
Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, a professional drone services marketplace, and a fascinated observer of the emerging drone industry and the regulatory environment for drones. Miriam has penned over 3,000 articles focused on the commercial drone space and is an international speaker and recognized figure in the industry. Miriam has a degree from the University of Chicago and over 20 years of experience in high tech sales and marketing for new technologies.
For drone industry consulting or writing, Email Miriam.
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