Reliable Robotics has been working for nearly a decade to commercialize autonomous flying technology that can be installed on existing aircraft. Now, with a $115 million funding boost, the Mountain View, California-based startup has a longer runway as it pushes to get its autonomous flight system certified by the Federal Aviation Administration — a critical milestone that co-founder and CEO Robert Rose said the startup is inching toward.
The financing is an extension of its Series D round and includes $90 million in equity funding led by Nimble Partners and $25 million in debt from Silicon Valley Bank. The Series D round, which now totals $275 million, has pushed the startup’s valuation beyond the $1 billion mark. Other investors include Gideon Strategic Partners, RockCreek, Geek Ventures, Gold Hill Capital, Sparkwave Capital and others. Reliable has raised $380 million to date.
