Reliable Robotics raises $115 million to pursue autonomous flight certification
Image: Primary Reliable Robotics has secured $115 million in additional financing as it seeks Federal Aviation Administration certification for autonomous flight technology that can be installed on existing aircraft. The Series D extension includes $90 million in equity led by Nimble Partners and $25 million in debt from Silicon Valley Bank.
The financing brings the Series D to $275 million and the startup's valuation above $1 billion. Reliable has raised $380 million to date.
Its first system handles engine startup, taxiing, takeoff and landing while a pilot remains onboard. CEO Robert Rose expects certification in 18 to 24 months; approval to move the pilot to a ground station is at least three years away.
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