Reliable Robotics, an aviation startup founded by SpaceX veterans, secured $115 million in funding, pushing its valuation beyond $1 billion, the company announced today. The Mountain View-based firm raised $90 million in equity led by Nimble Partners and $25 million in debt from Silicon Valley Bank, extending its Series D round to $275 million. Reliable has now raised a total of $380 million to date, according to techcrunch.com.
The financing round included participation from Gideon Strategic Partners, RockCreek, Geek Ventures, Gold Hill Capital, and Sparkwave Capital. Co-founder and CEO Robert Rose, a former SpaceX flight software director, said the startup is making steady progress toward Federal Aviation Administration certification for its autonomous flight system. Reliable Robotics aims to certify its technology on four fronts, a critical step toward commercializing autonomous flying capabilities on existing aircraft.
The startup’s focus on autonomous flight technology comes amid growing interest in automation within the highly regulated aviation sector. Reliable Robotics’ progress toward FAA certification marks a notable development in the industry, which has seen few companies advance as far in autonomous flight. The company’s valuation milestone places it among a select group of aviation tech startups attracting significant investor attention, reflecting confidence in its technology and market potential.
Reliable Robotics is advancing its FAA certification efforts while continuing to develop its autonomous flight system. The company’s next major milestone will be achieving full regulatory approval, which is essential for commercial deployment of its technology, as detailed by techcrunch.com.