Reliable Robotics tops a $1bn valuation with $115M for self-flying planes
The new money lands while Reliable still waits on the FAA. Its first system keeps a pilot in the cockpit, and its CEO puts pilot-free flights at least three years away.
Via TNW | Investors-funding
Reliable Robotics has raised $115 million, taking its valuation past $1 billion, the company announced on Tuesday. The Mountain View, California, startup builds systems that let existing aircraft taxi, take off, fly and land on their own.
The money extends the Series D it announced in April at $160 million, bringing the round to $275 million. The new tranche includes a $25 million term loan from Silicon Valley Bank, so $90 million is equity, TechCrunch reported. Nimble Partners led again.
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