Insider Brief
- Reliable Robotics raised another $115M, bringing its Series D to $275M and lifting the autonomous-aircraft developer’s valuation above $1B.
- The company is developing the Reliable Autonomy System for gate-to-gate automated flight and is seeking FAA certification on the Cessna 208B Grand Caravan, while also holding contracts with multiple branches of the U.S. military.
- Reliable recently completed autonomous taxi, takeoff and landing operations at Albuquerque International Sunport under an FAA pilot program, with a remote pilot more than 700 miles away and an onboard safety pilot supervising the flights.
Reliable Robotics has raised another $115 million in new capital, bringing its Series D round to $275 million and pushing the autonomous aircraft developer’s valuation above $1 billion.
According to the company, Nimble Partners led the financing as a returning investor, with new backing from Gideon Capital, RockCreek, Geek Ventures, Gold Hill Capital and Sparkwave Capital, among others. Island Green Partners also participated again. The new capital includes a $25 million term loan from Silicon Valley Bank. The funding will be used to expand Reliable’s aircraft fleet and production facilities and grow its engineering team.
Reliable Robotics previously announced $160 million for the Series D but said it expanded the round after receiving additional investor demand. The company has now raised more than $380 million in equity capital overall.
The Mountain View, Calif.-based company is developing the Reliable Autonomy System, or RAS, for automated aircraft operations. Reliable said the system is designed to address aviation risks including loss of control and controlled flight into terrain while working with existing aircraft and aviation infrastructure.
The company is seeking Federal Aviation Administration certification for RAS on the Cessna 208B Grand Caravan. According to Reliable, the system is designed to automate an aircraft from gate to gate, including taxiing, takeoff, en-route flight management and landing.
Reliable said its certification work includes an FAA-accepted certification plan, means of compliance and closed issue papers for continuous autopilot engagement. The company described RAS as the first FAA-certifiable system intended to support full gate-to-gate automated aircraft operations.
Commercial and Military Use
RAS is being developed for both commercial and military applications. Reliable has contracts with multiple branches of the U.S. military and has completed several military airworthiness review processes with the U.S. Air Force, the company said.
Reliable was also selected for the FAA’s Advanced Air Mobility Integration Pilot Program. The company said that participation will allow it to conduct pre-certification operations in the National Airspace System while delivering cargo to smaller and rural communities in New Mexico and Colorado.
Reliable Robotics completed its first autonomous flights at Albuquerque International Sunport under the program this week. Its automated Cessna 208B Grand Caravan performed taxi, takeoff and landing operations while supervised by a remote pilot more than 700 miles away in Mountain View, Calif., along with an onboard safety pilot., according to the Albuquerque International Sunport.
The autonomous flight system uses high-integrity navigation, full-authority flight controls and four-dimensional flight planning. Reliable said it is designed to operate within existing U.S. aviation infrastructure without requiring changes to the National Airspace System for commercial use.
Expanding Operations
Alongside the financing, Reliable announced new offices in Seattle and San Diego, adding to locations in Mountain View and San Martin, Calif., and Albuquerque, N.M. The Seattle operation will include a center focused on the company’s radar program. Reliable said it recently expanded its workforce to more than 250 employees and plans to recruit across engineering roles at its locations.
