Reliable Robotics secures $115M in new capital

Reliable Robotics, the leader in autonomous aircraft systems, today announced it has raised $115 million in new capital, upsizing its previously-announced $160 million Series D round due to increased investor demand. The investment, which includes a $25 million term loan from First Citizens Innovation Banking (formerly Silicon Valley Bank), pushes Reliable's valuation over $1 billion and brings the total raised in the Series D round to $275 million. To date, Reliable has raised more than $380M in equity capital. The funding will be used to expand the company's fleet of aircraft and production facilities, and to rapidly scale the engineering team.

Nimble Partners led the round as a returning investor. New investors include Gideon Capital, RockCreek, Geek Ventures, Gold Hill Capital, Sparkwave Capital and others, alongside continued participation from returning investor Island Green Partners. Allen & Company LLC advised Reliable on the Series D fundraise.

Crossing $1 billion in valuation is a significant milestone in Reliable's mission to deliver certified autonomous flight systems that make aviation safer and more accessible. Reliable's core technology, the Reliable Autonomy System (RAS), and the Reliable Radar prevent the leading causes of aviation accidents, like loss of control (LOC) and controlled flight into terrain (CFIT), while integrating with existing aviation infrastructure and certified aircraft, requiring no changes to the National Airspace System for commercial operations.

Aviation integration and dual-use applications

Reliable's practical approach to building certifiable autonomy technology has resulted in strategic partnerships across the aviation ecosystem, including original equipment manufacturers (OEMs), avionics manufacturers and operators.

The RAS is a dual-use, safety-enhancing technology that has both commercial and military applicability. Reliable has secured 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's recent selection in the Federal Aviation Administration's (FAA) Advanced Air Mobility Integration Pilot Programme enables Reliable to perform pre-certification operations in the National Airspace System, delivering cargo to small and rural communities across New Mexico and Colorado.

FAA certification progress

Reliable is certifying the RAS for commercial operations in the United States with the FAA on the Cessna 208B Grand Caravan. The RAS is the first FAA-certifiable system enabling full gate-to-gate automated operation of an aircraft. The company has the only FAA accepted certification plan, means of compliance and closed issue papers for continuous autopilot engagement.

Reliable is bringing safety to aviation through high-integrity navigation, full-authority flight controls, and four-dimensional flight planning. The RAS will use existing aviation infrastructure to perform autonomous operations like auto-taxi, auto-takeoff, en-route flight management and auto-landing at airports across the United States.

Scaling autonomy production

In addition to the $275M Series D, Reliable is also announcing the opening of two new offices in Seattle, Washington and San Diego, California. The new offices add to the company's existing footprint in Mountain View and San Martin, California and Albuquerque, New Mexico. Reliable will accelerate local recruiting across all engineering roles and will develop a centre of excellence for the radar programme in Seattle. The company recently grew its team to more than 250 people, and is hiring aggressively across office locations.

Reliable is building the next generation of automation technology.