Skydio has raised $170 million in a Sequence D funding round led by Andreessen Horowitz’s Enhance Fund. That pushes it into unicorn territory, with $340 million in total funding and a submit-money valuation north of $1 billion. Skydio’s new capital comes on the heels of its growth closing twelve months into the endeavor market, and it intends to exercise the substantial pile of cash to again it lengthen globally and speed product pattern.
In July of closing twelve months, Skydio announced its $100 million Sequence C financing, and also debuted the X2, its first dedicated endeavor drone. The firm also launched a suite of tool for commercial and endeavor customers, its first departure from the client drone market the put it had been centered ahead of that elevate since its founding in 2014.
Skydio’s debut drone, the R1, got a form of accolades and reward for its self reliant capabilities. Unlike other client drones on the time, in conjunction with from recreational drone maker DJI, the R1 would possibly per chance well computer screen a target and movie them whereas avoiding obstacles with none human intervention required. Skydio then launched the Skydio 2 in 2019, its 2d drone, elimination better than half the associated price whereas bettering on it its self reliant tracking and video capabilities.
Slack closing twelve months, Skydio precipitated extra senior skills to again it cope with endeavor and authorities customers, in conjunction with a tool pattern lead who had trip at Tesla and 3D printing firm Carbon. Skydio also hired two Samsara executives on the same time to work on product and engineering. Samsara gives a platform for managing cloud-basically basically based mostly hasty operations for mountainous enterprises.
The applications of Skydio’s skills for commercial, public sector and endeavor organizations are many and reasonably a couple of. Already, the firm works with public utilities, fire departments, construction companies and more to enact work in conjunction with some distance off inspection, emergency response, metropolis planning and more. Skydio’s U.S. pedigree also puts it in top mumble to capitalize on the increasing hobby in applications from the protection sector.
a16z beforehand led Skydio’s Sequence A round. Numerous traders who participated on this Sequence D embody Traces Capital, Next47, IVP and UP.Companions.