March 01, 2021
REDWOOD CITY, Calif.—The U.S. drone manufacturer Skydio has raised $170 million in Series D funding led by Andreessen Horowitz’s Growth Fund, bringing its total funding raised to more than $340 million. Skydio plans to use the additional capital to further accelerate product development and global sales expansion to support rapidly growing demand for its autonomous drones, the company said in a release.
Andreessen Horowitz, which also led the Series A, is joined in the round by existing investors Linse Capital, Next47, and IVP, along with new investor UP.Partners.
“The initial wave of hype around enterprise drones passed many years ago, but we’re now seeing these markets really mature,” said David Ulevitch, general partner at Andreessen Horowitz, in the release. “Autonomy is the key for drones to reach scale, and Skydio has established themselves as the defining company in this category. We’re excited to continue to invest in this magical combination of breakthrough technology, rapid growth, and an incredible team in a market that’s going through an inflection point.”
Skydio’s progress in various market categories over the past year includes a large enterprise drone deal with EagleView for residential roof inspection; selection for final integration as part of the Army Short Range Reconnaissance Program; and continued adoption of Skydio 2 by consumers. Skydio has been chosen in deployments across construction companies, departments of transportation, energy utilities, and police departments, the company said in the release.
“From the moment we met the Skydio team and saw the S2 in action, we knew this was going to be a world-changing company,” said Bastiaan Janmaat, partner at Linse Capital, in the release. “Think of all the dangerous jobs requiring ladders, harnesses, or helicopters to do work that can now, with Skydio, be done much more safely and efficiently. Autonomous drones will enable our aging infrastructure to be monitored much more effectively, and our first responders will have greater situational awareness than ever before.”
Numerous enterprises and public sector organizations rely on Skydio autonomous drones for infrastructure inspection, search and rescue, situational awareness, and emergency response, among other use cases. Users are reported to include Jacobs Engineering, Sundt Construction, the U.S. Civil Air Patrol, Ohio Department of Transportation, North Carolina Department of Transportation, Boston P.D., and Sacramento Metro Fire Department.
“This is an important milestone for us as a company, but also for the U.S. drone industry,” said Adam Bry, CEO and Co-founder of Skydio, in the release. “Together with our customers, we’re proving that a U.S. company can lead the way in this industry through AI and autonomy. Things are already pretty exciting, but we are just scratching the surface of what autonomous drones can do.”
Skydio is founded on the premise that autonomy is the key ingredient to unlock the full potential of drones. The company said that by transforming drones into intelligent devices that can dynamically understand and adjust to the environment in which they are operated, it enables radically simpler flights and makes missions once considered impossible, possible.
For more on Skydio, see U.S. Manufacturer Builds Innovative Drones with Secure Domestic Supply Chain.