Autonomous aviation startup Reliable Robotics raises $115 million
US startup Reliable Robotics, which develops autonomous flight systems for existing aircraft, has raised $115 million. Its valuation now exceeds $1 billion as it works toward certification by the US aviation regulator.
Reliable Robotics, a Mountain View, California-based startup that has spent nearly a decade developing autonomous flight technology that can be installed on existing aircraft, has secured $115 million in new funding. The money extends the company's Series D round and lifts its valuation above $1 billion. It gives the company more room to pursue certification of its system by the Federal Aviation Administration (FAA), the US aviation regulator.
How the funding is structured
Of the total, $90 million is equity led by the investment firm Nimble Partners, and $25 million is debt from Silicon Valley Bank. The Series D now totals $275 million. Other participants include Gideon Strategic Partners, RockCreek, Geek Ventures, Gold Hill Capital, Sparkwave Capital and others. The company has raised $380 million to date.
Co-founder and CEO Robert Rose previously served as director of flight software at SpaceX and has also worked at Tesla and Google. Co-founder and CTO Juerg Frefel is also a SpaceX veteran, having spent nearly a decade there as an engineer.
Four certification tracks
The company is pursuing FAA certification on four fronts. The first system, continuous autopilot engagement, handles engine startup, taxiing, takeoff and landing, while the pilot stays aboard and interacts with it through a touchscreen. Rose expects this certification in 18 to 24 months. The second step, which he says is at least three years away, would move the pilot from the cockpit to a ground-control station.
The third track is a collision-avoidance radar that Reliable built in-house after failing to interest established suppliers. Unlike conventional radars with a moving antenna, it is a solid-state unit with no moving parts. According to Rose, it scans at longer range and higher resolution, is cheaper and is easier to maintain. He expects certification by the end of 2027.
The fourth is Reliable Airlines, which is meant to become the first airline certified to use the technology. Based in Albuquerque, it flies cargo six days a week with six Cessna Caravans. The FAA certifies equipment, but airline operations fall under separate regulations.
Nimble Partners founder John Burbank said the opportunity is much larger than building a single plane, since the system can be adopted by any airframe.
