March 1, 2021
U.S. drone manufacturer Skydio has announced it raised $170 million in Series D funding, bringing the total amount raised to more than $340 million (with a $1 billion valuation). The company said it will further accelerate product development and global sales expansion to support rapidly growing demand for its autonomous drone solutions.
The funding was led by Andreesen Horowitz’s Growth Fund, along with 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 Andreesen Horowitz.
Over the last year, Skydio said it has made significant progress in every market category. Consumers continue to adopt the Skydio 2 drone, the company made a large enterprise drone deal with EagleView for residential roof inspection, and the company was chosen for final integration as part of the Army Short Range Reconnaissance Program. Companies and organizations working with Skydio include Jacobs Engineering, Sundt Construction, the U.S. Civil Air Patrol, Ohio Department of Transportation, North Carolina Department of Transportation, Boston Police Department, and Sacramento Metro Fire Department. Use cases include infrastructure inspection, search and rescue, situational awareness, emergency response, and more.
“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. “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.”
The company insists that autonomy is the key ingredient to unlocking the full potential of drones. Through its technology, Skydio creates intelligent devices that can dynamically understand and adjust to the environment in which they are operated. The company said it will further accelerate its innovation with the upcoming release of the Skydio X2 drone and Skydio 3D Scan adaptive scanning software.