Reliable Robotics has secured an additional $115 million for its Series D round, bringing the total raised in this round to $275 million. The funding consists of $90 million in equity and a $25 million term loan from Silicon Valley Bank. This capital injection pushes the company's valuation past the $1 billion mark.
Founded in 2017 by Robert Rose and Juerg Frefel, the Mountain View-based startup is developing autonomous flight systems. The company has raised over $380 million in equity to date. The new funds are earmarked for expanding the aircraft fleet, increasing production capacity, and hiring additional engineering staff.
The company is currently seeking FAA approval for its technology, which is designed for the Cessna 208B Grand Caravan. Reliable Robotics expects to receive certification for its autopilot system within 18 to 24 months. The firm also operates Reliable Airlines, a cargo service in Albuquerque, and has secured commitments for over 200 systems.
Reliable Robotics is expanding its physical footprint by opening new offices in Seattle and San Diego. These locations will complement existing sites in Mountain View, San Martin, and Albuquerque. The company currently employs more than 250 people and continues to recruit for engineering positions.
