San Mateo, California-based autonomous drone maker Skydio secured $230M in fresh funding.
The firm doubled its valuation over the previous round to $2.2B. Skydio intends to increase its manufacturing capacity tenfold at its plant in Hayward, California, increase R&D efforts, and strengthen its sales and customer support divisions with the incoming capital.
CEO Adam Bry stated that there were numerous challenges in raising the funding and that it took nearly a year to raise the target amount.
- The firm counts Shell USA, Dominion Energy, and the U.S. Army as a few of its prestigious customers.
- The U.S. Army gave Skydio a $100M contract last year to perform short-range reconnaissance missions for the next five years.
- Axon Enterprise, a law enforcement and military technology product maker, made a strategic investment in the current round.
- Prior to the current fundraising, the firm raised $340M in equity funding, the last of which came in the form of a $170M Series D funding round in February 2021 led by Andreessen Horowitz.
