Reliable Robotics has secured $115 million in new capital, increasing its previously announced Series D financing to $275 million and pushing the autonomous aviation company’s valuation above $1 billion. The additional financing was raised following increased investor demand and includes a $25 million term loan from Silicon Valley Bank. Nimble Partners led the latest round as a returning investor, with new participation from Gideon Capital, RockCreek, Geek Ventures, Gold Hill Capital, Sparkwave Capital, and others. Island Green Partners also participated as a returning investor. Allen & Company supported the Series D fundraising process.
Reliable Robotics said it has now raised more than $380 million in equity capital since inception. The company plans to use the new funding to expand its aircraft fleet and production facilities while rapidly growing its engineering organization.
Reliable’s core technology includes the Reliable Autonomy System, or RAS, and Reliable Radar. The company is developing the systems to address major aviation safety risks, including loss of control and controlled flight into terrain, while integrating with existing aircraft and aviation infrastructure.
The RAS is being developed for both commercial and military applications. Reliable has secured contracts with multiple branches of the U.S. military and completed several military airworthiness review processes with the U.S. Air Force.
The company was also selected for the Federal Aviation Administration’s Advanced Air Mobility Integration Pilot Program. That selection enables Reliable to conduct pre-certification operations within the National Airspace System, including cargo delivery to small and rural communities in New Mexico and Colorado.
Reliable is working with the FAA to certify the RAS for commercial operations on the Cessna 208B Grand Caravan. The company said its system is being designed to enable full gate-to-gate automated aircraft operations, including auto-taxi, auto-takeoff, en-route flight management, and auto-landing.
Reliable said it has an FAA-accepted certification plan, means of compliance, and closed issue papers covering continuous autopilot engagement. The platform uses high-integrity navigation, full-authority flight controls, and four-dimensional flight planning while relying on existing aviation infrastructure.
Alongside the financing, Reliable announced new offices in Seattle and San Diego, adding to its existing locations in Mountain View and San Martin, California, and Albuquerque, New Mexico. The Seattle location will include a center of excellence for the company’s radar program.
Reliable has grown to more than 250 employees and plans to accelerate hiring across engineering disciplines as it expands development, certification, manufacturing, and deployment of its autonomous aircraft systems.
