Skydio Soars To A $2.2 Billion Valuation After Raising $230M Series E

Feb 27, 2023•over 2 years ago

Amount Raised

$230 Million

Round Type

series e

San MateoManufacturing

Investors

AxonHercules CapitalUp.Partners.The Walton Family FoundationNvidiaDo Co MoIvpNext47Andreessen HorowitzLinse Capital

Description

Drones are quickly becoming more than a flying selfie cameras. Amid growing geopolitical tensions, drone makers are seeing increased demand and acceptance as drones move farther from consumers’ hands.

Company Information

Company

Skydio

Location

San Mateo, California, United States

About

The company says it’s seen a 30x growth over the last three years and is now the largest drone manufacturer in the United States. In a released statement, Skydio co-founder and CEO Adam Bry says the company sees “extraordinary demand globally from organizations addressing needs important to every citizen.” The company had viral success with its original drone that featured a market-leading collision avoidance detection. The company still offers such capabilities but has pushed the industry forward with additional features and capabilities. In addition, the company expects to hire 150 manufacturing employees to staff the new facility. Skydio says its drones are used in every branch of the U.S. Department of Defense, by over half of all U.S. State Departments of Transportation, and by over 200 public safety agencies in 47 states. Current regulations around visual piloting limit this product, but Skydio has a solution for that, too, and now works with companies to expand their drone programs.The new Skydio manufacturing facility is based in Hayward, CA.

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Funding Insights

Based on industry data

VC-backed spending patterns

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Tech investment trends

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